After last season's success on-loan with Besiktas, Elneny has been linked with Trabzospor.
But Agaoglu admits they cannot afford the Egypt international, explaining: "Trabzonspor cannot spend half of its budget on a player.
"Elneny has never come to our agenda. If he came, it would be a waste of time. Our combined and match revenues are zero. The situation we were in this year had a negative impact on product sales. There was a 40 percent decrease in sales.
"Too many rumours are being written and drawn up these days. As such, even the managers of the players we are not interested in call us and say, 'Mr president, you are interested in the player?'."