Chelsea target Rafinha Alcantara has signed a new contract with Barcelona that will see him remain at the club until the end of the 2013/14 season reports skysports.com.
The 18-year-old Spaniard is the brother of first-team regular Thiago, and made his debut for Pep Guardiola's side in the recent 1-0 win over Hospitalet in the Copa del Rey.
Blues boss Andre Villas-Boas was rumoured to be preparing a bid for Alcantara when the transfer window reopens in January, after scouting the tennage midfielder in a similar manner that brought Oriol Romeu to Stamford Bridge in the summer.
As the Portuguese tactician continues his overhaul of the Chelsea squad, he will now have to turn his attention to alternative targets after a statement on Barcelona's website confirmed Alcantara had committed his future to Camp Nou.
"Rafael Alcantara do Nascimento, 'Rafinha', signed a contract this morning that will keep him at the club until the 2013/14 season, with a buyout clause of €12million until the 2012/13 campaign rising to €30m the following year," it read.
Alcantara previously said it was an honour to be linked with a club like Chelsea, but made it clear that it had always been his intention to stay at Barcelona.
"It's the kind of thing you can't really believe," he enthused after signing the new deal. "It's been my dream since I came here when I was just 13 years old - it really was a dream come true."