Chelsea owner Roman Abramovich is refusing to meet Sevilla's £24.5 million asking price for Daniel Alves.
The Sun says Blues boss Jose Mourinho believed he had bagged his No 1 summer target after chief executive Peter Kenyon struck a deal following talks in Madrid.
But Kenyon was left humiliated when billionaire Abramovich refused to sanction that amount of money for the right-back.
Kenyon was told the terms were unacceptable and to renegotiate.