Talks between Chelsea and AC Milan over Andriy Shevchenko's possible return to the San Siro have collapsed, the Italian club's chief executive said.
'Talks over Shevchenko are deadlocked at the moment,' Adriano Galliani told reporters.
'Milan were interested in taking the player on loan with the right to buy but Chelsea said no because they wanted a full sale, therefore negotiations are over.'
The Ukraine striker spent seven successful years at Milan before moving to English Premier League side Chelsea in 2006.
However, he has struggled at the London club with form and fitness problems.
Italian and British media have reported that club owners Silvio Berlusconi and Roman Abramovich recently discussed Shevchenko's future.
Milan spent big on recruiting Barcelona playmaker Ronaldinho in the close season and are therefore struggling for funds for another permanent buy.
