Portuguese midfielder Tiago appears unlikely to sign with Chelsea.
The 33-year-old is a free agent, electing not to renew with Atletico Madrid where he was a regular as they won La Liga last season.
It was reported in May by Marca that he had signed a pre-contract agreement with Chelsea, to return to Stamford Bridge where he played under Jose Mourinho in 2005/06.
Yet the transfer window opened in July 1, and three weeks in, Chelsea have not made any announcement they will be signing him.
This is despite tying up more complicated deals for Diego Costa and Filipe Luis.
Spanish newspaper AS report that Chelsea have abandoned their plans to bring back the midfielder, and he could land up signing with another La Liga side instead.
"Chelsea have left Tiago in the lurch... The reality right now is that Tiago has no team and intends to continue in the Spanish League."
This is despite earlier reports that his influence was key in helping persuade Diego Costa and Filipe Luis to leave Atletico for Chelsea.
AS report that Tiago wants a substantial wage on a two-year contract, and Valencia are the most likely team to be able to pay what he is demanding, while even suggesting he could re-sign with Atletico if Diego Simeone would have him back.
His mooted return to Chelsea would have been unlikely to see him be a regular at the Bridge, and so the collapsed deal may not be such bad news for the midfielder.
With time ticking down until the new season starts, Tiago will be keen to resolve his situation one way or another as soon as possible.