Cole has been linked with a move to Spanish giants Real Madrid, following Jose Mourinho’s appointment as new boss at the club.
A senior Chelsea source last night told The Sunday Mirror: “Ashley is going absolutely nowhere and he has notified the club he has no intention of seeking a move.
“He remains eternally grateful for the support he received from people at the club including owner Roman Abramovich.”
Chelsea have reportedly put a £80million price tag on Cole.