Chelsea have decided to reject Barcelona's stunning £50million player-plus-cash offer for Willian, according to the UK Telegraph.
It emerged on Thursday, that the Catalan giants had made contact with the Blues, over a swap deal involving Malcom, who they signed for £38m from Bordeaux last summer after failing to land Willian.
Even though the Brazilian has just turned 30 and only has 18 months left on his contract, Chelsea have rebuffed Barca's offer and do not want to sell.
The Premier League club told Barca's representatives that they value Willian much higher than the proposal put forward to them, with the LaLiga leaders seemingly still valuing Malcom at the £38m they paid.
That means Chelsea were effectively offered £12m plus Malcom in exchange for Willian.