Shevchenko is the reigning European Footballer of the Year

Reports on Wednesday claimed they had opened negotiations on a world record �60m move for the 28-year-old Ukranian.

A Chelsea statement said: "It is our policy not to comment on speculation linking Chelsea to players.

"But there are continuing, and totally incorrect, reports regarding Shevchenko that only serve to destabilise those players already at Chelsea."

Milan also played down speculation that Chelsea were chasing Shevchenko.

"We categorically deny the reports about Shevchenko's link with Chelsea," said a Milan club press officer.

Shevchenko has consistently been linked with Chelsea as a result of his friendship with the club's Russian owner Roman Abramovich.

Chelsea manager Jose Mourinho has repeatedly claimed he has only one transfer target remaining this summer - Lyon midfielder Michael Essien.

We are not seeking to sign a forward and we have total confidence in those we have Chelsea statement

The Chelsea statement continued: "The club have made it quite clear that we are seeking to bring in one more player, and we have also made it clear that this will be a midfield player, if it happens.

"We are not seeking to sign a forward and we have total confidence in those we have."