Vice-President Adriano Galliani has ruled out Alexandre Pato leaving AC Milan for Paris Saint Germain in January.
Pato, 22, has been linked with a move away from Milan and hinted at a fall-out with coach Massimiliano Allegri.
It was reported on Thursday that PSG, who are set to appoint former Milan boss Carlo Ancelotti as their new manager, have already made an offer for the Brazilian forward, one which the player's agent said he was of the mind to accept. But now Galliani has denied any talks have taken place.
"There is no negotiation going on with Paris Saint-Germain for Pato," Galliani told the Milan Channel. "There has been no contact with the player and none between us and PSG. There is no truth in it. I've been trying to tell the newspapers as much, but they don't believe me."
Pato's agent, Gilmar Veloz, had told L'Equipe: "Ancelotti is a great coach, Leonardo is a very competent director, David Beckham would be more than just a team-mate and PSG are a club who will become even bigger.
"It's all very fascinating and the offer is seductive, but we are not the ones who have to decide. Milan and vice-president Adriano Galliani are the ones who will have to make the decision. We are professionals. We'll sit down around a table and if it is good for Milan and for us then who knows?"
Galliani insisted Milan remain firmly interested in Manchester City striker Carlos Tevez and await the Premier League club to soften their stance about only accepting a loan deal.
"We're just waiting for the negotiations for Tevez to unblock," Galliani added. "We've decided to forget about other options, including Maxi Lopez of Catania, because we only want Tevez.
"He has said that he wants to leave City and he'll only do so to come here to Milan. If a player arrives then it will be a top world class one, otherwise we won't be making any signings."