Niklas Sule's agent says the Hoffenheim defender turned down the opportunity to join Chelsea.
The Germany international, fresh from winning silver at the Rio Games, is under contract with the Bundesliga side until 2019.
His impressive performances have attracted interest, but a reported EUR30 million bid from Antonio Conte's Premier League outfit led nowhere.
"Yes, there was interest," Sule's agent Karlheinz Forster told Bild. "The English have made it clear they'll still be interested next year."
Sule, 21, explained his own reasons for wanting to remain with Hoffenheim, adding: "I've got my familiar environment here. That was and is very important for my development and the base to put in constant performances at a high level."
Chelsea bought David Luiz back from Paris Saint-Germain on deadline day, as well as signing left-back Marcos Alonso from Fiorentina.