Fabio Capello insists he has not held talks with Chelsea amid continued speculation linking the former England coach with the Stamford Bridge job.
The Italian resigned from his position with England in February following the Football Association's decision to remove the captaincy from Chelsea defender John Terry.
His compatriot Roberto Di Matteo is currently in charge of the Blues, having been in interim charge since Andre Villas-Boas' departure in March.
A decision on Di Matteo's future will be made at the end of the season and a string of names have been linked with the position.
Capello was at the Champions League final on Saturday night between Chelsea and Bayern Munich, where he was seen having a pitchside conversation with suspended Blues captain Terry.
However Capello told Italian TV station Sky Sport24: "There has been no contact between me and Chelsea."
Capello, 65, has won league titles with AC Milan, Real Madrid, Roma and Juventus, and led England from the start of 2008 until February.
He admitted earlier this month that he would be keen to manage in club football in England after revealing he enjoys living in London.
His son and lawyer also confirmed that Capello held talks with Guangzhou recently before the Chinese club appointed another experienced Italian coach in Marcello Lippi.