European champions; Chelsea got a disappointing news on what would have been another move to fortify their 2012 squad after it was announced by Brazilian club Corinthians that Brazilian midfielder Paulinho whom Chelsea has been after for a while now has signed a new contract with the club.

Although, speculations are that the move is to find ways to increase the stakes on the 24-year-old, that is larger fee for his services in the future.

Corinthians dismissed the thought of selling their star to the Premier League club, as Corinthians’ President Mario Gobbi Filho insisted that no bid will be consider for the midfielder as they want to hold on to their man.

“We have renewed his contract and we have adjusted it, now it is at a level appropriate for Paulinho and the market’.

We have no intention to sell him; it is out of the question.

“We have a cycle that lasts until July and we renewed his contract to keep him, not to sell him”

“We do not want to transfer any player in January.”

The midfield anchor man has been in impressive form of late attracting the interest of many European clubs.

Alongside the Blues, Inter Milan are rumoured to be monitoring the situation closely with the club’s bosses keen to add depth to their squad.

Paulinho, who won his first international cap last year, has made six outings for Brazil notching two goals.


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