Alvaro Pereira insists he respects Porto's decision to turn down Chelsea's bid for him.
Chelsea were trying up to deadline day to land the Uruguayan wing-back, who can also play in midfield.
But Porto were looking for around £25million for their former boss Andre Villas-Boas to be reunited with Pereira at Stamford Bridge.
And Chelsea would not meet Porto's demands, so Pereira has remained with the Europa League champions.
"The club could not agree and I will continue in the colours of Porto," he told Sport 890 in Uruguay.
"They said they did not want to sell me and weaken the team, and as a player I have to respect that decision.
"Chelsea grew weary and withdrew their offer. My agent told me the two clubs just could not reach an agreement.
"I just have to focus on Porto and try and produce a performance, it will not be easy but that is my challenge."
Chelsea were reported to be offering €20million, €10million short of Pereira's buy-out clause.