Real Madrid's statement represents a significant blow for Enzo Fernandez and his representatives.
Anyone following comments from his camp, or from the Argentina international himself, will be aware that he has been open to the possibility of leaving Stamford Bridge this summer, with a move to the Spanish capital understood to be his preferred option.
Madrid's public distancing from Fernandez follows similar signals given privately by sources at Paris St-Germain and Manchester City, both of whom have previously been linked with the midfielder.
Since March, Fernandez has made a number of public comments in Spanish-language interviews following Chelsea's dip in form and their Champions League exit to PSG.
Later that month, while on international duty, he spoke about a potential move to Spain in several interviews, which ultimately resulted in an internal two-match suspension.
His agent Javier Pastore has also publicly discussed his future, suggesting Fernandez is underpaid at Chelsea and indicating that failure to qualify for the Champions League could become an issue.
Those comments have created an uncomfortable situation for Chelsea, given Fernandez's importance to the team. The midfielder contributed 15 goals and seven assists in all competitions last season and served as vice-captain.
Chelsea, however, have remained consistent in their position.
The club have been willing to listen to offers should their £120m valuation be met, but they have not actively sought to sell him.
While the situation has been challenging, Chelsea do not view it as irreparable.
There is a belief at Stamford Bridge that Alonso can successfully reintegrate Fernandez into the squad and help repair his relationship with supporters through strong performances and results on the pitch.
