Borussia Monchengladbach have confirmed that Arsenal have not made a January offer for Granit Xhaka, with the Bundesliga club's director of sport Max Eberl saying he has been "amused" by the transfer reports.
Xhaka, 23, said earlier this week that playing in the Premier League would realise a "childhood dream," but added that Gladbach have yet to receive any offers for him.
German newspaper Bild has reported that the midfielder is interesting Bundesliga champions Bayern Munich as well as Arsenal and Chelsea, but Eberl says Gladbach are determined to keep one of their best young talents.
"There are no offers, there is no figure that I have seen in black and white and there is no contact with Arsenal," he told Sport1.de.
"I would like to say clearly once again at this point: Granit Xhaka wants to stay in Monchengladbach and we do not want to sell him.
"He is a super player for us and will contest the second half of the season here. As for the figures I have seen floating round, they amuse me."
Xhaka is under contract until 2019, but a €30 million release clause can reportedly be activated in summer 2017 -- meaning the next two transfer windows would be the final chances for Gladbach to sell him for more than that.
And the midfielder, who wears No. 34 at Gladbach, joked that he had been in touch with Arsenal's No. 34 Francis Coquelin, saying: "Yeah, I already he talked to him -- he'd take another number."
Eberl admitted earlier this week that Gladbach would have trouble keeping hold of Xhaka if "dizzy" fees were offered, and has again confirmed that the club's policy of selling for the right price will not change in the future.
"Each club has its role," he added. "We have developed some super players in recent decades, players who have celebrated great success, but have been forced to sell them.
"This will not change over the coming years. The upside is it enables us to take a new path."