Borussia Monchengladbach have not received an official offer for Arsenal target Granit Xhaka, sporting director Max Eberl has said, despite speculation stating otherwise.
Xhaka, 23, has been linked with a move to the Gunners for much of 2016, and in April sources told ESPN FC that the Premier League club are confident of securing a deal.
On Wednesday, reports in the German and English media claimed that Arsenal are closing in on the signing of the Switzerland international and have made an offer of £33.9 million plus add-ons.
However, speaking to kicker, Eberl dismissed the speculation, although he did not rule out a summer sale of Xhaka, who is under contract until 2019 with an option for another year.
"There is no official offer," he said. "But Granit Xhaka is an issue, sure. It's clear that he's generated interest at other clubs. We have to wait and see what happens."
But with Euro 2016 less than a month away, Xhaka does not want to wait for too long.
"It would be good if I knew where my future lies in the new season before the Euros," he told reporters. "It's not all that helpful if you have to think about stuff like that during the tournament. Thus, I would be pleased if it were to be decided before that. But it wouldn't be a problem if it's after that."
Gladbach have all but secured a fourth-place finish as they go into the final game of the Bundesliga season against Darmstadt on Saturday with a three-point advantage and vastly superior goal difference over Mainz, Hertha Berlin and Schalke.
Xhaka is set to make his 108th Bundesliga appearance, and said: "I don't know whether this will be my last match for Borussia."