Andre Villas-Boas has ruled out the prospect of Willian joining Chelsea this month.
The Shakhtar Donetsk midfielder has been heavily linked with a move to Stamford Bridge and the Blues were claimed to have lodged a £16m bid for him earlier this week.
But, with the Ukrainian club believed to want upwards of £20million, Chelsea have now ended their pursuit of the Brazilian.
“Willian is an extremely interesting player but I don't think we will progress with our interest because of different issues, from work permit to price valuation,” said Villas-Boas.
"I think our project next year is more important than the actual project at the moment. Not that Willian doesn't have the characteristics for the future but we are betting a lot on what we can build on for next year."
Villas-Boas has confirmed the club are keen on Genk wideman Kevin de Bruyne, however, but is unsure whether a deal will be completed this month.
"Kevin is a player that is not within my immediate projects," he added. "He's a player that the club has scouted for quite some time and was interested in for quite some time.
"I think Kevin is an extremely interesting player and I think it's a good bet eventually if the club finishes the situation."