Hamburg chief Frank Arnesen has warned Atletico Madrid off striker Paolo Guerrero.

Arnesen has poured cold water on the talk surrounding Guerrero by insisting the 27-year-old, who is contracted at the Bundesliga side until June 2014, is staying put.

He told BILD: "This is nothing more than a rumour. We have not been approached by any club with regard to Paolo Guerrero.

"Paolo will have one week of holiday when the Copa America ends. After that he is fully in our plans for the new season.

"There is no doubt. I want to keep hold of the best players. We have a young squad and I would not like to see an experienced player leave."

He added: "Anyway, if a lucrative offer came in, we would have to sit down and discuss it."