Chelsea insist they have not made a bid for Real Madrid-bound Valencia striker David Villa.

The Blues' Spanish scout, Juan Cruz Sol, met with Los Che president Manuel Llorente today in the club's headquarters to discuss the future of the 27-year-old striker.

However, the Spain international is on the verge of signing for big-spending Madrid and Chelsea's interest never developed into a formal offer.

Cruz Sol spoke to the Spanish media after the meeting, with Valencian newspaper Levante quoting him as saying: "Chelsea made an important offer for him (Villa).

"But the answer (from Valencia) was 'no' because negotiations with Real Madrid are very advanced.

"Hence, there's no possibility that Villa will go to Chelsea because he wants to go to Real Madrid.

"The purpose of the meeting was to have have some contact and know with certainty what Villa's situation is.

"Now we have clear ideas and we know that to expect."

A Chelsea spokesman told PA Sport no formal bid was made after exploratory discussions with the financially-stricken La Liga outfit.

"We have made no offer for David Villa," he said.

Valencia president Llorente earlier revealed an offer for Villa had been received but refused to confirm whether it was from Chelsea.

He told regional newspaper Las Provincias: "Yes, we have an offer for Villa but not from Spain."

Speculation has been rife Valencia could be forced to sell prize assets Villa and David Silva to ease their financial worries.

Madrid splashed out £59million on Kaka on Monday and then had a world-record £80million bid accepted by Manchester United for Cristiano Ronaldo this morning.

And it seems their summer spending, as new president Florentino Perez looks to re-establish his 'galacticos' policy, may not end there.

On whether he had spoken to Perez regarding Villa, Llorente added: "We had another conversation on Tuesday and we have started talking about the matter."