AC Milan cannot afford the €30 million it would take to sign Giovanni Simeone from Genoa, president Enrico Preziosi says.
The Argentine striker, son of Atletico Madrid coach and former Inter player Diego, has scored 10 goals in 20 Serie A games this season, prompting Genoa to pay River Plate to ensure they hold the rights to his contract.
There were reports that they rejected an offer of around €20m from Villarreal on the last day of the January transfer window, while the 21-year-old has been linked to a summer move to Milan.
Preziosi, though, will not entertain discussion of an imminent exit, insisting that it would take a huge offer to convince the club to sell.
"We paid €2.1 million because before we only had 35 per cent," he told reporters. "It was an operation that had to be done so that we could free up all constraints.
"Will he go to Milan in the future? Galliani knows that he can not spend €30m, so this is in fact pure invention.
"Giovanni has the same grit of his father, he’s a guy of great will and ambition."
Genoa have signed former Queens Park Rangers and Tottenham Hotspur player Adel Taarabt from Benfica and praised the 27-year-old's quality.
"[Adel] Taarabt must understand that he has a great career ahead of him, he can do good things with natural ability," Preziosi added.
Simeone is contracted to Genoa until June 2021. His side currently sit 15th in the Italian top flight and take on Sassuolo on Sunday.