That’s according to ESPN pundit Gabriele Marcotti.
Conte has been linked with a return to Italy to take the national team job.
Marcotti was discussing the chances of Chelsea signing Roma defender Kostas Manolas when the transfer window opens next month.
The Greece international has been tipped to join the Blues in recent weeks.
However, Marcotti says Manolas will stay at Roma, adding that Chelsea owner Roman Abramovich won’t let Conte spend big in January.
“This is a purely contractual thing,” Marcotti said of the Manolas rumours.
“There is talk of him getting a new contract and obviously Roma have done business with Chelsea before when they sold Rudiger in the summer and he was linked with Chelsea in the summer.
“I think in the end he extends his deal.
“I think the reality is, if you’re Chelsea right now in terms of their centre-back setup, they’ve got Rudiger, they’ve got (Cesar) Azpilicueta, they’ve got (Andreas) Christensen, they’ve got (Gary) Cahill you can get another year out of and there’s David Luiz floating around, who may or may not come back.
“But remember too, Chelsea right now don’t have a director of football because Michael Emenalo left, and there’s still going to be some questions whether Antonio Conte returns next season.
“So I don’t see them committing money this January on a centre-back, especially someone like Manolas who will cost you a bundle.”