Racic has been linked with United this week.
And Valencia-based journalist Hector Gomez reports that while United's interest in Racic is very real, his camp have denied any bid for the 22-year-old - who has a £92million release clause in his contract at the Spanish outfit - being placed.
"Racic's camp confirm interest from Manchester United for the player but NOT the €30m offer. Let's see if there really is a final offer or if it only remains as interest," Gomez tweeted.
Racic joined VCF from Red Star Belgrade in the summer of 2018.
He has been out on loan spells since arriving at the Mestalla, last season turning out for both Famalicao in Portugal and Spanish outfit Tenerife.