De Bruyne still has four years to run on his current contract with the Bundesliga outfit but is seeking a new, improved deal in order to remain at the Volkswagen Arena.
City are believed to be monitoring the Belgian's situation closely, with the Premier League side willing to pay up to €49 milliion for the 24-year-old attacker.
However, Allofs insists Wolfsburg have yet to receive any formal approach from City - or any other club - in relation to their most prized possession.
"I'm not worried," he told Kicker. "I don't know anything about these possible offers. So, there's nothing to talk about."
De Bruyne joined Wolfsburg from Chelsea in 2014 and played a key role in last season's runners-up finish in the Bundesliga, with the Belgium international racking up a record-equalling 20 assists.