Atletico Madrid president Enrique Cerezo insisted Saul Niguez will remain at the club, though he refused to dismiss links with Zlatan Ibrahimovic.
Saul has reportedly emerged as a target for LaLiga rivals Barcelona should they fail in their pursuit of Paris Saint-Germain midfielder Marco Verratti.
The 22-year-old Spanish star - who scored a hat-trick against Italy in the European Under-21 Championship semi-final on Tuesday - has no intention of leaving Atletico and Cerezo reinforced the team's stance.
"Saul is a very good player and he has a long-term contract at Atletico," Cerezo said.
"Are you going to ask me about him every summer? We'll put up with it.
"I don't think he has any agreements with other clubs, or anything like that. Saul is at Atleti, and he won't be going anywhere."
Atletico face a difficult off-season, with Diego Simeone's men unable to register players until January 2018 after breaching rules over the transfer of foreigners under the age of 18.
Still, Atletico have been linked with Diego Costa and Ibrahimovic.
Ibrahimovic - who is recovering from a serious knee injury suffered in April - will leave Manchester United after the Premier League giants opted against extending his stay.
Asked about the 35-year-old Swede, Cerezo said: "We have spoken with his family, but not with him.
"A lot of things can happen between now and January. We'll speak with Ibrahimovic in January, but right now we can't sign anyone.
"I don't think he'll come in January."
Former Barca striker Ibrahimovic scored 28 goals in all competitions to help United to EFL Cup and Europa League glory last season.