Fabio Capello's son and lawyer, Pierfilippo, insists that his father is not in talks with Chelsea.
Capello junior has revealed that the former England coach was close to a move to China.
However, Marcello Lippi was appointed manager of Guangzhou - who Capello had been talking to.
Capello has also been strongly linked with taking charge at Stamford Bridge in recent days, but this has now been denied.
Asked about Chelsea, Pierfilippo told TuttoMercato: "Unfortunately, these are just wonderful inventions by newspapers.
"A future in China the same as (Marcello) Lippi? My father was already close to the same club (Guangzhou), then it all came to nothing."
He did though insist that they would not exclude any option in the future.
"Any possibility cannot be excluded, as long as the project is successful and exciting," he insisted.