Chelsea failed to land Brazil midfielder from Roma despite tabling a £24.6m bid for the player, according to the Italian club's president, Franco Sensi.
Chelsea completed a £111.65m summer spending spree with the capture of French midfielder Claude Makelele from Real Madrid on transfer deadline day on Monday.
But, despite a strong apparent interest in luring Emerson to Stamford Bridge to join new owner Roman Abramovich's revolution, Roma resisted Chelsea's approaches.
"Abramovich offered me 40 million euros and I said no," said Sensi.
"I told the player that I would never have sold him and I have assured him that we will extend his contract - he will get what he deserves."