Villarreal are not currently involved in talks to sign Tottenham playmaker Giovanni Lo Celso.
The Argentine enjoyed a fruitful loan spell for Unai Emery's side last season.
But CEO Fernando Roig Negueroles says no progress has been made on signing Lo Celso permanently.
"Lo Celso is a player who has been happy here and has made us happy, so we would like to continue together", Negueroles told Radio Vila-real.
"He's a Tottenham player and it is a very complicated operation as of now - we're not even in talks."