Didier Drogba is set for a third spell at Chelsea, according to reports in Brazil.
But the former striker will not return to play up front with Diego Costa – the Ivorian is bidding for a coaching role in west London.
Drogba refused an offer to join Corinthians of Brazil that would have included generous wages and a bullet-proof car.
Drogba said on Twitter on Wednesday that he had spoken with the Corinthians president Roberto de Andrade to decline the offer.
"I'm very honoured... but it doesn't feel like the right move for me at this time," wrote Drogba.
The club thanked the player for showing an interest.
"Life is made on choices and this renowned player will head for other horizons this season," Andrade said in a press release headlined "Thanks anyway, Drogba".
His 164 goals at Chelsea put him fourth on the club’s all-time list – he has the most by a non-English player – while he has scored the most goals for the club in finals (nine) and in the Champions League (36).