The Barcelona director reveals the young attacker has spurned advances from other clubs in order to fight for his place at Camp Nou
The 21-year-old has been linked with a move due to competition for places from the likes of Alexis Sanchez, Pedro and new signing Neymar, although he stressed last week his "dream" was to stay at the club for the foreseeable future.
Zubizarreta confirmed that Barca has received bids from other clubs for Tello's services, but the Spain starlet has spurned the advances in order to stay in Catalonia.
"Tello has a release clause of 10 million euros and he had offers. He has said he wants to stay, though," Zubizarreta was quoted as saying by Marca.
"Thiago said he wanted to go and this is totally respectable. I hope he has a great career with Bayern Munich."
Tello was reportedly in talks with Barcelona to extend his current contract until 2018, but those negotiations were put on hold while the club arranged the appointment of Gerardo Martino.