Palermo president Maurizio Zamparini insists Javier Pastore is not for sale.
Chelsea, Manchester City and Barcelona are chasing the Argentina international.
"Pastore wants to remain at Palermo," Zamparini said to Gazzetta dello Sport. "He is a very intelligent man, who wants to improve.
"He has decided to remain with us for another year."
Pastore has also attracted the attentions of Serie A clubs Napoli and Roma, both keen to sign the 21-year-old, who joined Palermo in 2009 from Huracan.
"I have already turned down a 50million euro offer for Pastore," Zamparini said. "Even if Chelsea were to make an offer this year, he would not move.
"Barcelona already made an offer and I said to them that this year he would not leave."
