Porto have yet to receive an offer from Chelsea or any other club for Bruno Alces according to club chairman Pinto da Costa.
The defender has been linked with the Blues along with Barcelona and Real Madrid but da Costa said that nobody has been forthcoming as he plans to keep the current squad together.
"Selling players is not part of our intentions, but if we receive a good offer and everybody is happy with it, there is no reason not to negotiate," Da Costa said.
"At the present time, Porto are focused on trying to keep their squad together and only the departure of one of our players could force us into making a signing.
"The truth is that we are yet to receive any formal offer for Bruno Alves."