Tottenham chairman Daniel Levy has issued an official statement stressing that Luka Modric will not be allowed to join Chelsea.
Modric, 25, has been linked with a move away from White Hart Lane after the club failed to secure Champions League football for next season, and Chelsea are understood to have had a £22 million bid rejected.
Harry Redknapp dismissed that figure as "ridiculous", but Modric has now said that he wants to join Chelsea and added: "I have an arrangement with the chairman. When I signed my new contract, he said that, if another club came to sign me, they would consider the offer."
However, amid reports Chelsea have upped their bid to £25 million, Levy has now written on the club's official website to dismiss talk the Croatia midfielder could be allowed to depart.
The statement read: "I wish to make it absolutely clear, as I have said previously, that none of our key players will be sold this summer. We are building a team for the future to consistently play at the highest level and retaining quality players is crucial to that.
"In respect of Luka Modric, we are not prepared to sell, at any price, to Chelsea Football Club or any other club. We made our stance on this issue abundantly clear in writing to Chelsea. They chose to ignore it and then subsequently made the offer public. For the avoidance of any doubt, let me reiterate that we shall not enter into any negotiations whatsoever, with any club, regarding Luka. We now consider this matter closed."
Indeed, Tottenham manager Harry Redknapp believes selling Luka Modric would leave Spurs having to accept being a mid-table team.
He told talkSPORT: ''It's a happy thing to have a player like Luka Modric, who has suddenly turned into a £50million, £40 million player and everyone wants him. We're lucky we've got him and we aren't selling him, that's what the chairman says and that's good enough for me.
''The chairman has made a statement today. He can't backtrack on that. He means that - I know he means that. Luka's not going. Daniel has made that statement - he can't come out and suddenly sell him. Everyone will go, 'What's the use of listening to what he says?' He can't sell him. He's said he's not going to sell him and that's good enough for me.
''Daniel and Joe Lewis own the club. They're not selling Luka - end of story, as far as I'm concerned. It's not easy to keep a player who's not happy but the chairman has said we're not going to sell him so we've got to stand by that now. He can't be saying that and then we sell him.
''If we sell Luka Modric where are we going as a football club? We'll have to accept then that we're a middle-of-the-table team that will finish in the top half next season and really that's not what the chairman wants, it's not what I want. It's not, most importantly, what the fans want.
''You've got to keep your best players. I don't see Liverpool wanting to sell Steven Gerrard or Chelsea wanting to sell Frank Lampard, John Terry or any of their top players. Arsenal don't want to sell [Samir] Nasri so you've got to keep your best players if you want to be successful.
''He's such a great player for us we just don't want to lose him. He's a great guy, top-class boy and obviously his head's been turned a little bit by the fact that he's wanted by all these clubs and he could probably go and get a fantastic contract.
''It's difficult but we certainly don't want to lose him. Daniel's made the statement and I'm sure he's determined to stand by what he's said.''