AC Milan president Silvio Berlusconi believes the club have been priced out of a move to take Chelsea striker Andriy Shevchenko back to the San Siro.
Shevchenko scored four league goals last season
Shevchenko, 30, scored four Premiership goals in his first season after his £30m switch from AC Milan and has often been linked with a return to Italy.
Berlusconi told the club's television station: "We don't feel able to make any offer which can please Chelsea.
"There are insurmountable obstacles tied to the player's value."
Berlusconi added: "I'm very tied to Sheva and I have always expressed my approval for his possible return."
No one has yet signed for Milan this summer, despite the club saying they would buy one of Samuel Eto'o, Ronaldinho, Didier Drogba, Andriy Shevchenko or Brazil youngster Alexandre Pato.
"With the current squad we have we could say that we will do well next season. However we are in talks about two attackers, two champions, and we are confident at least one can play with us," Berlusconi said.
Earlier this month Chelsea boss Jose Mourinho insisted Shevchenko can be a key player for the Blues next season.
Mourinho told BBC Five Live: "If he performs and shows me match after match he deserves to play, I'm very happy.
"I hope Sheva can do it. If Sheva plays magnificently I have to play him and Didier Drogba together, that is no problem for me."