Reports on Thursday afternoon suggested that a deal had been agreed that would see the Finland international remain with Blues on-loan until the end of the season barring a major injury crisis occurring at Stamford Bridge.
However, a statement on the Chelsea official website on Thursday evening says these reports are premature.
"Reports that Birmingham City have signed Mikael Forssell on loan to the end of the season are premature," the statement reads.
"Birmingham have inquired about his availability and talks are due to take place before the current loan runs out at the end of next month. They will probably happen soon. But until a final agreement is reached nothing will be announced."