Chelsea have been put on red alert following the collapse of Gregory van der Wiel's move to Valencia.
The £15m-rated Dutch wing-back looked set to move to the Mestalla after the La Liga side had agreed a fee with Ajax.
However, Valencia's sporting director Braulio Vazquez has "practically ruled out" a swoop for the 24-year-old.
"Given the intransigence of Ajax in the negotiations about his transfer price, we have practically ruled out the possibility of bringing him to Valencia for next season," Vazquez told Spanish newspaper Las Provincias.
Van der Wiel has 25 caps for the Netherlands.
