Deportivo Toluca midfielder Marcel Ruiz has no interest in joining the Blues, according to a report in Mexico.
The 24-year-old was widely linked with Town in the Mexican press over the weekend with claims that a $10 million (£7.4 million) deal was close.
However, according to Blues sources, that significantly overstated the situation with Town having watched the eight-times-capped Mexican international but with no approach made.
Toluca manager Antonio Mohamed subsequently said his club has received no firm bids for Ruiz.
"Marcel has nothing concrete, the club has nothing concrete, and besides, he wants to go to an important club,” he said.
Now, am.com.mx, is reporting that Ruiz is not interested in moving to the Championship and has decided to remain with Toluca, the Liga MX champions.
Ruiz has been with Toluca since 2022 and has made 125 appearances, scoring 15 goals and picking up 17 assists.