The 22-year-old Colombia international has been linked with a move to Old Trafford in recent days but club director Marcel Brands says there has been no formal approach
David Moyes is believed to be keen to strengthen his defence this summer with Nemanja Vidic set to join Inter and the futures of Patrice Evra, Rio Ferdinand and Rafael all uncertain.
Reports in recent days have suggested the Red Devils could be poised to make a £6 million bid for the 22-year-old Colombia international, but Brands insists no club has made a formal approach for the player.
"We don't know anything about any interest [from Manchester United]. No team has made a formal approach for Santiago," Brands told Algemeen Dagblad.
"But we do know that Arias is an interesting player for a number of teams. He is an attacking full-back and a Colombia international who will play at the World Cup for one of the top six countries."