Real Betis president Angel Haro claims Real Madrid have not contacted the club over a potential move for Dani Ceballos.
The highly rated midfielder, who has helped Spain to reach the final of the European Under-21 Championship in Poland, this week denied claims he has already decided on a move to LaLiga champions Madrid.
The 20-year-old, under contract until 2020 but with a buyout clause reported to be a relatively modest EUR15million, did acknowledge he does not know where he will be playing next season.
And while Haro has confirmed Betis have received expressions of interest, he insisted the club want to keep one of their prized assets at the Benito Villamarin in 2017-18.
"We want him to remain a Betis player," the president told the media at a news conference to present new player Victor Camarasa, who has joined from Levante.
"It is true that there was interest from teams... But there are not even negotiations.
"Real Madrid has not had any conversation with us.
"We will talk about it when we can... we want Ceballos to stay, but we have to wait and see [what] his intentions [are]."