Santos president Luis Alvaro Ribeiro has ensured supporters that star striker Neymar has not signed a contract with another club.
The 19-year-old has been heavily linked with Barcelona and Real Madrid, with the latter reported to have already come to an agreement for the transfer of the player.
However, Ribeiro has denied such talk and has also told Brazilian media he has no knowledge of Madrid taking out an insurance policy in case the forward gets injured.
"There is no contract signed with anybody," Ribeiro told Lancenet.
"I do not know if this is right [in regards to Madrid taking out insurance on Neymar] but it matters little to me. But of course, if he is to play outside of Brazil, he will need insurance."
The Santos chief also admitted that he is struggling to hold onto the Brazilian international as the club are unable to compete with the likes of Madrid and Barcelona financially.
"I do not have the situation to compete with them [Real Madrid] in financial terms. I'm struggling. There is evidence that they have scored a goal but the game is not over. It is zero-zero, or rather, just zero. Neymar is still a Santos player," he added.
Ribeiro concluded the interview by stating that holding onto Neymar is 'a matter of national interest' with any possible deal for the striker likely to involve a figure of €45 million, the figure stated as the player's buyout clause.
The highly-rated youngster has so far made 12 appearances for the national side, scoring six goals in the process.