Chelsea have indicated to AC Milan that defender Branislav Ivanovic is 'indispensable', according to the player's agent.
Ivanovic signed for the Blues from Lokomotiv Moscow in January for a fee in the region of £9million, but has yet to make his debut for the West Londoners.
Serie A giants Milan are believed to be interested in signing the highly-rated Serbian, however it is reported that Chelsea would only consider allowing the player to leave on loan.
Ivanovic's agent, Vlado Borozan, has claimed the Stamford Bridge club have told Milan that the centre-back is not for sale, but hinted talks are ongoing.
"We'll see how the situation progresses," Borozan told Tuttomercato.com. "Chelsea have made it known to us that he is indispensable."