Chelsea boss Andre Villas-Boas has confirmed the club have missed out on Porto defender Alvaro Pereira.
The Uruguayan international became the top target of the Blues boss in the later stages of the transfer window, with Chelsea thought to be willing to pay in the region of £20 million for the player.
However, the Stamford Bridge side could not come to an agreement with Villas-Boas' former club, and a deal now looks to be a long way off.
"We were very far from meeting Porto's demands for Alvaro," said AVB.
"I am happy with Ashley Cole and Ryan Bertrand."
The comments came moments after the Chelsea boss confirmed the club had also missed out on Luka Modric, whom the club had bid in the region of £40 million for.
Whilst Villas-Boas refused to be drawn on his January transfer plans, he confirmed he wasn't considering another bid for the player at the current time.
"No I don't think so. The market is closed and I won't speculate what happens in January," mused the Chelsea boss.
Despite the double failure, Chelsea did enjoy relative success in the transfer market over the summer months, with Juan Mata, Romelu Lukaku and Raul Meireles three high-profile names added to the club.