Porto have issued a statement rejecting stories that midfielder Fredy Guarin is on the verge of joining Real Madrid.
A report in news daily A BOLA earlier on Tuesday suggested that the Colombian was heading to Real Madrid after catching the eye of coach Jose Mourinho.
Guarin, 25, is widely expected to leave Porto before the end of the transfer window after enjoying a dream second half to the last season, playing an important role in the club's treble.
Roma have also been credited with an interest in Guarin, who has a €30 million release clause, but Porto have now guaranteed they have not yet been contacted for the midfielder.
"Porto have not received a single offer for the transfer of Guarin, whether it is from Real Madrid or any other club, nor does it pretend to negotiate this player or any other," a Porto statement reads.
Guarin, who joined Porto from Saint-Etienne in 2008 for an undisclosed fee, made 44 appearances for the club last season, scoring 10 goals.