Porto president Jorge Pinto da Costa insists there is no chance of the club agreeing to sell highly-rated full-back and reported Chelsea target Alvaro Pereira in January.
The 26-year-old Uruguayan international was heavily linked with a move to the Barclays Premier League in the summer, as the Portuguese club turned down a number of big-money bids for their star turn.
According to skysports.com, Blues boss Andre Villas-Boas is planning to renew interest in Pereira in the New Year, as he is keen to bring a familiar face to his Stamford Bridge ranks when the transfer window reopens.
The Portuguese tactician has also been credited with an interest in Pereira's teammate Joao Moutinho, and could make a double raid on his former club in the coming weeks.
However, any hopes Chelsea may have had of luring either player to west London have been dealt a major blow after da Costa issued a statement to reassure Porto boss Vitor Pereira that the club will not be selling any of it's key men.
"I have offered a guarantee to the coach that no important players will leave the team in January," Da Costa told O Jogo. "And that includes Alvaro Pereira.
"I think the chance to do a deal for this player has passed, and that is good news for us. Now is the time that rumours start spreading in the papers, but I am used to that."