Atletico Madrid have not yet made a definitive move to sign Yoann Gourcuff from Lyon, according to the Liga club's sporting director Jose Luis Caminero.
The move had appeared close to completion when the France international's agent, Nikola Franco, spoke with AS over the weekend.
However, Caminero told reporters on Sunday evening that Atletico had not yet made any decision on their January transfer business, with Inter Milan's Ricky Alvarez, Valladolid's Patrick Ebert and Real Mallorca's Michael Pereira all reportedly also under consideration.
"(Gourcuff) is more something from the media than the club," Caminero said. "We are looking at players, but we have not decided on anyone. We will wait for January 31 to see if there is a chance. There are no definitive names on the table."
Gourcuff, who signed for Lyon from Bordeaux for €22 million in 2010, has 18 months remaining on his contract and appeared as a late substitute in his current side's 2-0 Ligue 1 win at Valenciennes on Friday evening.
Reports in Spain suggest the French side are eager for an outright sale, while Atletico would prefer a loan without a binding agreement to complete the transfer next summer.
Franco told AS on Friday that his client was keen on moving to La Liga after he had discussed the possibility with former Real Madrid galactico Zinedine Zidane.
"It is going well, there is an understanding between Atletico and Gourcuff, that is no problem," he said. "But there are some financial issues to sort out. Until then we cannot go any further.
"He has spoken with Zidane to ask his advice. (Zidane) told him not to think twice, because Atletico is a good place for him at this moment."
Caminero, speaking after Atletico's 3-0 Primera Division reverse at Athletic Bilbao on Sunday night, also said that his club’s €3.5 million move for Sporting Lisbon left-back Emiliano Insua had not yet been completed.
Atletico announced via its club website on Friday that former Liverpool defender Insua, 24, would be joining once he passed a medical, but the ex-Atletico midfielder said there were still some details to be ironed out.
"With Insua there are a few loose ends to tie up, but he will be here soon," Caminero said. "He plays down the left, is powerful, has character and is used to scoring goals. He will be good for the team."
AS reported on Sunday that Insua’s arrival at the Calderon would cover an outstanding debt owed to Atletico by the Portuguese club from the transfer of Elias for a reported €8 million in August 2011.
The Brazilian midfielder, 27, has not been a success in Lisbon, and he returned to his homeland earlier this month to join Flamengo on loan.