Sao Paulo president Juvenal Juvencio has confirmed that the club have rejected an approach from Chelsea for Lucas Moura.
The 19-year-old, is regarded as one of the finest talents in world football, and has been linked with a host of European clubs.
Chelsea are understood to have bid £32.5m for the teenager, but the Brazilian club have rejected the offer.
"At the moment it is Chelsea that are the closest team to Lucas. Inter made an offer of £20.2m, but this was not considered sufficient by us," Juvencio told FCINTER1908.
"Real Madrid is one of these [interested clubs] - there have been contacts with the president Florentino Perez, who admires the player. Lucas is a big player who will triumph in Europe, but Sao Paulo will only sell him for an enormous offer."
Chelsea secured the Champions League trophy with victory over Bayern Munich last Saturday.
