The 20-year-old was hot property following a successful loan spell with Brighton & Hove Albion in 2022-23, and his stock also rose thanks to England's Under-21 Euros triumph in the summer.
Colwill played five of England's six games in the tournament, in which Lee Carsley's men conquered the continent without conceding a single goal, and Liverpool were supposedly pushing to bring him to Anfield.
However, having been promised by Mauricio Pochettino that he would slot straight into his system, Colwill committed his future to Chelsea by signing a new long-term deal until 2029 with the option of a further 12 months.
True to his word, Pochettino has used Colwill on 26 occasions this season, including in 20 of Chelsea's 21 Premier League games, and the defender has registered one goal and one assist in top-flight action so far.
Colwill has largely been forced to play at left-back due to injuries to Ben Chilwell and Marc Cucurella, though, and Pochettino is already well-stocked in central defence, where Axel Disasi, Thiago Silva and Benoit Badiashile are all battling for minutes.
Colwill has come under fire for perceived poor displays in his unnatural left-back position this season, and according to talkSPORT, Liverpool have not given up hope of prising him away from West London.
The 20-year-old was allegedly open to exploring a transfer elsewhere in the most recent summer window, only to have a change of heart once he received assurances from Pochettino over his playing time.
However, the report adds that Chelsea may have no choice but to consider suitable offers for their academy
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