The winger has been linked with a number of top clubs on the back of an impressive 2014 World Cup with Colombia, but he will not be joining the Bundesliga championsBayern Munich sporting director Mathias Sammer has described rumours linking the club with a move for Fiorentina star Juan Cuadrado as "nonsense".
The winger was one of the stand-out performers at the World Cup in Brazil, as he helped Colombia to the quarter-finals of the competition.
Since then he has been linked with a host of big clubs, including Bayern and Barcelona, but Sammer has laughed off reports he is on their wish list.
He told TV1: "The rumours about Cuadrado are absolute nonsense. If all speculation were true, we would have a 57-man squad."
Midfielder Toni Kroos departed the Allianz Arena last week to join Real Madrid in a €20 million (£15.8m) deal but Sammer was non-committal over the prospect of bringing in a direct replacement.
He added: "We must consider if it's good enough or if we will do anything further."
Bayern's World Cup stars will have just three weeks to recover before beginning the defence of their Bundesliga crown against Wolfsburg on August 22.
CEO Karl-Heinz Rummenigge has criticised rival clubs and accused them of trying to "hurt" his side for failing to grant a later start date for the division and Sammer admits he is concerned over the fitness of several players.
"I am afraid because the mental and physical burden could lead to injury concerns," he added.