The European champions have made no secret of their desire to end the misfiring Ukrainian's Premiership nightmare, but Berlusconi claims to have been priced out of the running.

He told the club's television station: "We don't feel able to make any offer which can please Chelsea. There are insurmountable obstacles tied to the player's value."

Serie A
Serie A preview
31/08/2007 AT 10:59

"I'm very tied to Sheva and I have always expressed my approval for his possible return."

Shevchenko has repeatedly been linked with a move away from Stamford Bridge after having netted just four goals during a disappointing first season in the Premiership.

But Blues boss Jose Mourinho is keen to hold on to the 30-year-old and earlier this month said:

"If he performs and shows me match after match he deserves to play, I'm very happy.

"I hope Sheva can do it. If Sheva plays magnificently I have to play him and Didier Drogba together, that is no problem for me."

Berlusconi had claimed he was going to bring one of Samuel Eto'o, Ronaldinho, Didier Drogba, Andriy Shevchenko or Brazil youngster Alexandre Pato to Milan this summer, but so far he has failed to make good on his promise.

But the Rossoneri's lack of transfer activity is not a cause for concern to the former Italian prime minister, who believes the Champions League winners already have a squad capable of enjoying more success next term.

"With the current squad we have we could say that we will do well next season. However we are in talks about two attackers, two champions, and we are confident at least one can play with us," Berlusconi said.

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