Brazilian defender Miranda has snubbed Chelsea and decided to remain at Atletico Madrid, according to reports.
The 29-year-old has attracted interest from various suitors after an impressive season with Atletico, who won La Liga and reached the Champions League final.
However, according to Marca, Chelsea's £20m bid fell short of Miranda's £24m release clause, while the player himself was persuaded by manager Diego Simeone to remain at the Vicente Calderon.
Former teammates Diego Costa and Filipe Luis have both signed for Jose Mourinho's side this summer.
