AC Milan have offered a two-year contract extension to striker Andriy Shevchenko, 29, who has said he may leave the club in the summer.
Shevchenko has scored 19 goals in Serie A this season
A statement on Milan's website said: "Shevchenko's future is at the heart of every Milan fan that is why Milan have proposed an extension until 2011."
Chelsea boss Jose Mourinho said: "I like Shevchenko but my feeling is Milan don't want to sell him."
The Ukraine striker's current deal expires in June 2009.
Shevchenko had said earlier this month that he was considering leaving the club this summer for family reasons.
He said: "I'm thinking of leaving because of my family. I spoke to the president and we discussed the possibility. No definite decision has been made.
"This has nothing to do with my relationship with Milan, there has always been a great deal of affection, as with my team mates and coaches.
"I want to say another thing to the fans who have always been and will be very important to me. It is not about financial matters either, that would be absurd."
Milan president Silvio Berlusconi has hinted Shevchenko could end up playing in England.
Speaking to a group of students in front of the prime minister's office, the former Italy prime minister is reported by the website of Gazzetta dello Sport to have said: "Do you know that Shevchenko wants to leave? He wants to go to England."
Shevchenko, a former European Footballer of the Year, joined Milan from Dynamo Kiev in 1999 and has scored 19 Serie A goals this season.
He will captain Ukraine at the World Cup this summer in Germany.