Real Madrid defender Fabio Cannavaro has snubbed the chance to join Chelsea, according to his agent.

Since the dismissal of coach Fabio Capello at Madrid, rumours have increased that the 33-year-old World Player of the Year could return to Turin or make a move to the Premiership.

But, when asked about Chelsea's offer, the player's agent Gaetano Fedele said: "Yes, the offer was there, but we postponed everything due to Real Madrid's wish.

"Let's not forget that Madrid are the most prestigious club in the world.

"In any case both clubs would have to find an agreement between them and from what I have read, Madrid coach Bernd Schuster has been clear in saying that Fabio is untouchable.

"I reiterate it's highly unlikely that Fabio will leave Real Madrid at least this year."

The central defender, who joined Madrid shortly after guiding Italy to World Cup glory last summer, is under contract with the Spanish champions for a further two seasons.

"Fabio is in Madrid where he has adapted very well," Fedele added.

"They have won a championship and hence I don't think there is a possibility he will leave Madrid.

"Fabio's wish is to win the Champions League and the only team that can let him do that is Real Madrid."

Chelsea captain John Terry is confident he will sign a new contract with the club before the start of the season.  PA