Debuchy has impressed in the first two Group D games of Euro 2012, and the Magpies were keen to make their move prior to his valuation soaring further.
However, Garcia regards Newcastle’s bid as far too low, and joked that the Premier League side must have been bidding for a different player.
|4/7||France are 4/7 to top Euro 2012 Group D with Paddy Power|
"If he does go and it is a sporting progression, then we will be happy to see him evolve - but we have not planned to replace him."
Garcia also insisted that Debuchy's raised profile after his displays so far in Poland & Ukraine has not shocked him.
He added: "No [they haven't surprised me], as he plays with France as he does with us, he plays high and attacks but defensively is also very rigorous and he exudes confidence.
"Without insulting [Laurent] Reveillere and [Bacary] Sagna, he is trying to show he should always be right-back for France."
Newcastle are reportedly keen to bring in reinforcements after current right-back Danny Simpson rejected a contract offer.