Valencia GM Mathieu Alemany has played down talk of losing Goncalo Guedes.
The Portugal international is on-loan at Los Che from PSG, where his form this season has sparked interest from across Europe.
Arsenal and Juventus have been linked with Guedes, while Real Madrid are also keen where Cristiano Ronaldo has lobbied for his Portugal teammate to be signed.
But Alemany insists there's been no contact with Real about Guedes.
He said on Thursday: "An interest from Real Madrid? I was not told anything about Real Madrid's interest."