Atletico Madrid say they are not willing to part with Argentine striker Sergio "Kun" Aguero despite reported interest from Chelsea.
The 21-year-old, who scored 17 goals last season to help Atletico claim a place in the Champions League, is one of the hottest properties in European football.
British media reports on Wednesday said Chelsea had launched a 45 million pound (53-million-euro) bid to sign him.
The Times of London said the English Premiership club held talks at the weekend with Jose Segui, who works for IMG, Aguero's representative.
Atletico's director of football, Garcia Pitarch, was asked by the AS sports newspaper if Atletico would sell Aguero or another of its stars, Uruguayan Diego Forlan.
"The club would not want these two players to leave in any way, even with the buyout clause," he replied.
"Obviously, this possibility is something that is beyond the control of the club... And hopefully this does not happen ever," he said.
He added that "as of today there are no offers for Aguero," who was transfered from Argentine club Independiente in 2006 for 23 million euros (32 million dollars).
Aguero said earlier this month that he wanted to stay in the Spanish capital but urged Atletico's owners to invest in player reinforcement to ensure the club was capable of making an impact among Europe's elite, suggesting he could be attracted by a switch to a club challenging for major honours every season.
Atletico qualified for the Champions League by finishing fourth in the league this season.
But they have not won a major trophy in over two decades and their last success was way back in 1996 when they won the league and Kings Cup double.