Roberto Di Matteo has admitted he is an admirer of Internacional playmaker Oscar but insists the Brazilian is yet to become a Chelsea player.
Sky Sports News on Monday revealed European champions Chelsea had agreed a £25million provisional deal for the 20-year-old amid widespread speculation.
Oscar is currently in London as he prepares to compete in the Olympics with Brazil, and reports have suggested he has undergone a medical at Stamford Bridge.
Chelsea boss Di Matteo has remained coy about the rumours but is a fan of the attacking midfielder's talents.
"I can tell you that he's not a Chelsea player so it's difficult for me to talk about a player that doesn't belong to us," said the Italian.
"I know there has been speculation we are interested in this player and in due course if there is anything to announce we will do.
"All I would say is that he is a very young talented midfield player."