Andre Villas-Boas has confirmed that the signing of Raul Meireles has ended Chelsea's interest in Tottenham Hotspur midfielder Luka Modric.
Chelsea snatched Portugal international Meireles from Liverpool for £12 million in the dying minutes of the August transfer window, having admitted defeat in their summer-long pursuit of Modric.
Reports suggest Chelsea made several offers for the diminutive playmaker - the final bid reached £40m - only to be told that he was not for sale, with Spurs chairman Daniel Levy eager to ensure the player remained at White Hart Lane.
Villas-Boas is believed to be concerned over a lack of creativity in the Chelsea engine room and, having also lost the inventive Yossi Benayoun in August, his squad still looks light in that regard.
But, when asked if Chelsea would return to Tottenham with another bid for Modric in the New Year, Villas-Boas said: "No I don't think so. The market is closed and I won't speculate what happens in January."
Meanwhile, Villas-Boas insists he is unfazed by a failure to secure the signature of Uruguay left-back Alvaro Pereira, who he managed at Porto. "We were very far from meeting Porto's demands for Alvaro. I am happy with Ashley Cole and Ryan Bertrand."