The club's vice-president, Vadim Vasilyev, has ended speculation about the striker's future by making it clear that they have no intention of selling him to Real Madrid
Madrid president Florentino Perez recently admitted that the Liga giants see Falcao as an interesting option for the future, with several Spanish sources claiming that the 27-year-old could join the Santiago Bernabeu side for a set fee.
However, Monaco have made it clear that Falcao will not be going anywhere for now.
"I know Florentino and I have a lot of respect for him. He runs one of the best clubs in the world, but I think some of his comments were inappropriate," Vasilyev told Marca.
"Falcao has signed a five-year deal with Monaco and I have already said a hundred times that he doesn't have an exit clause.
"We put in a lot of effort in order to sign him and it would not make any sense to allow him to leave again in January or next summer."
Falcao has a contract with Monaco until June 2018.