The veteran coach is due to step down from the Spanish national team after the European Championships and has admitted that he will not be retiring from the game.
Fenerbahçe were strongly linked with his services, but appear to have jumped the gun in stating that they had reached a two-year agreement.
"I don't understand it because Luis has not signed anything with anybody," Aragonés told reporters in Vienna.
With Spain due to play in the semi final only a day after the news broke, the trainer was asked if he believed that the report would have any bearing on his squad.
"I don't think its going to affect the team at all," he explained. "It is just another piece of news. Sometimes the news is true and sometimes it isn't."
Earlier reports had suggested that the Spanish Football Federation were considering offering him a new two-year deal and that was causing a rift.
Aragonés was adamant that he had already made up his mind to go at the end of the current tournament and was not going to be talked out of it like he was two years ago.
"No, there has been no offer of a renewal," he added.. "The matter has all been talked about and sorted out before."
Lucas Brown, Goal.com