Coloccini is desperate to play for San Lorenzo, where his dad is part of the group running the club.
The Argentinian club tweeted: “Finally, after long negotiations, we announce that Fabricio Coloccini will not join the roster of San Lorenzo. It is not possible to release the Newcastle player … and therefore the club will look for another alternative to strengthen the defence.”
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Summer 2016 is set to be a very exciting time for football fans, as this is when the long awaited Euro 2016 tournament kicks off.
Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.