Hans Robben, who also acts as the 23-year-old's agent, admitted that a move to Spanish giants Real Madrid - who have made little secret of their interest in the player - was still an option.
But he denied that his son had turned down a lavish £90,000 per week deal to remain at Stamford Bridge.
He told the Daily Star: "It's been reported Arjen's been offered £90,000 a week. Maybe if it was he would have signed.
"In fact, the new contract wasn't really a new contract. It was no good so we turned it down.
"Maybe he'll go to Madrid or maybe he'll stay and serve out his current two-year contract," he added.