No Go
Sorry Chelsea fans, the Brazilian is staying put. Reuters

Chelsea transfer target Neymar has confirmed he will remain with Santos next season, ending months of speculation linking him with a move to Europe.

The Brazil forward has been linked with a £45m move to some of Europe's biggest clubs, including Chelsea, Manchester City, Real Madrid and Barcelona.

Just last week, Santos president Luis Alvaro Ribeiro said the club was prepared to sell the 19-year-old if the release clause in his contract was triggered.

But over the weekend, Neymar moved to distance himself from transfer reports saying, "I have a contract that I intend to honour."

The player's agent reiterated his client's remarks saying, "In light of continuous speculation in the national and international press about the future of our player, I feel obliged to communicate the departure of Neymar is non-negotiable.

"Neymar is a media phenomenon known throughout the world. His talent for brilliant moves on the field is proportional to his charisma."

Audacious swoop

Reports in this weekend's papers suggest Chelsea are prepared to make an offer for Arsenal forward Theo Walcott.

The Daily Mail reports the winger, who has an "uneasy relationship" with manager Arsene Wenger, is "frustrated at the lack of first-team opportunities at the Emirates" and would be keen on a move across London. The paper offers no details of how much Walcott would cost or even if Wenger is willing to sell the England international.

Defensive cover

Reports in Spain suggest Real Madrid centre-back Pepe could join Portuguese compatriot Andre Villas-Boas at Chelsea in the coming weeks.

The 28-year-old is yet to sign a new contract at the Bernabeu and Marca reports that progress on a new deal has stalled in recent weeks.

The Portugal international could be available for as little as £5m and would provide John Terry and David Luiz with some much needed competition in the Chelsea back-line.

Malouda keen to stay

Meanwhile, midfielder Florent Malouda has revealed he would like to extend his Chelsea contract beyond 2013. He told Journal France-Guyane,

"My relationship with the coach is good.

"My contract at Chelsea runs until 2013, and I want to stay until 2014 at least."