CHELSEA player-manager Ruud Gullit is looking to sign Italy's national captain and AC Milan's star left-back Paolo Maldini for £17 million, according to Italian paper Il Messagero.

Should the deal go through, the transfer would eclipse the previous world record football signing of Alan Shearer by Newcastle United for £15 million at the start of this season.

Chelsea managing director Colin Hutchinson would neither confirm nor deny the reports saying he had "no intention of speaking about transfers." Three expensive Italians players - Gianluca Vialli, Gianfranco Zola and Roberto Di Matteo - are already included in the Chelsea line-up.