Real Madrid have yet to make an offer for Athletic Bilbao goalkeeper Kepa Arrizabalaga, according to the Basque club's president, Josu Urrutia.
The Spain international has yet to sign a new contract with Athletic, with his current deal ending in June 2018.
"We are aware of what is being reported but we don't have any confirmation from the player's agents nor have we had any offer from Madrid," Urrutia said in a news conference on Wednesday.
"We are not aware that any team has been negotiating with Kepa.
"Athletic is not a club that sells players and for a player to be able to leave, first you have to know whether he wants to leave, and secondly, his buy-out clause has to be paid."
Considered the most promising goalkeeper in Spain, Kepa, a youth product of Athletic, had his league debut in September 2016 and has made 14 league starts for the Bilbao outfit this season.
Urrutia has not given up hope that the goalkeeper will remain at the club beyond next summer.
"We are still awaiting an answer and depending on that answer we shall see," he said.
"Until he says that he doesn't want to renew his contract with Athletic, I have to remain positive.
"Our duty is to extinguish every possibility because our wish is for him to remain.
"For the time being, we continue to talk and the door is not closed."
Urrutia admits that negotiations with Kepa are at an "impasse."
"There is no definite answer," he said. "But I would like to highlight that this is a process that was started 15 months ago. He wasn't a starter when the negotiations began and we then had two years still to go.
"We are now waiting to see if he says yes or no."