Atletico Madrid goalkeeper Jan Oblak rejected the chance to join Chelsea after the club met his £89.4million (100m euros) release clause.
The Blues' attempt came before turning to Athletic Bilbao's Kepa Arrizabalaga, but the 25-year-old opted to stay in Spain to play Champions League football, according to The Times.
Chelsea were in need of a new shot-stopper after Thibaut Courtois joined Real Madrid.