Andriy Shevchenko has committed himself to AC Milan by agreeing a new four-year deal with the club.
Shevchenko will not be moving to England
The Ukranian was the top scorer in Serie A last season as Milan won the league title and he had attracted the interest of Premiership club Chelsea.
Chelsea owner Roman Abramovich was thought to been on the verge of making an official offer for the striker.
But the 27-year-old Shevchenko, formerly of Dynamo Kiev, will now stay with the Italian giants until 2009.