That's according to Valentijn Driessen, De Telegraaf's chief of football.
Driessen declared on Veronica Inside: "No, Real Madrid has in fact withdrawn.
"They said: 'if you want to go to another club, you can look for another club'.
"They don't want to commit to Donny van de Beek now."
Driessen says Real wish to pursue a deal for Manchester United midfielder Paul Pogba, which could lead Van de Beek to Old Trafford.
He continued: "Which is preferred. I think they (Real Madrid) are also three hundred million euros in the red. They are working on a new stadium: again three hundred million. They have no money machine to pick up unlimited players. They focus on the top segment and that is not Donny van de Beek.
"Pogba naturally also represents enormous commercial value, Real Madrid is also looking at that. A transfer must also pay for itself. A Pogba that pays for itself rather than a Van de Beek. First we go for the big boys, then for the filling. And yes, that is Van de Beek. 55 million euros is a lot of money for Van de Beek, especially during this period."