The Tshwane giants said in a statement that they will engage and cooperate with any club that submits a geniune offer for the 23-year-old winger, and therefore raising questions on whether or not they have rejected Montpellier's offer.
They have now invited all the clubs interested in the South Africa international to come forward with concrete offers.
"Mamelodi Sundowns will engage and cooperate with any Club that submits a genuine offer for Keagan Dolly to go and play overseas," read the statement on the Sundowns website.
"This is the instruction that the President, Patrice Motsepe gave us and we are committed to implementing it. We have nothing at this stage to add to the media release we made on Saturday."
Motsepe said in last week's press conference that certain European clubs wanted to buy Dolly and pay them in installments; something he said the club will not accept.
Media reports on Thursday suggested that Dolly didn't train with his teammates as he was preparing to fly to France to undergo a medical before signing on the dotted line with Montpellier.
However. as things stand, the proposed move cannot be finalised unless Sundowns' demands are met as Dolly is still contracted to them for the next three-and-a-half years.