Sevilla sporting director Monchi confirmed they have rejected an offer for Jules Kounde and does not believe the defender has reached an agreement with Manchester City.
Kounde has been heavily linked with City as Pep Guardiola looks to strengthen his backline.
The France Under-21 international joined Sevilla from Bordeaux last July and enjoyed a stellar first season with the club.
He played 40 times in all competitions, including nine games of Sevilla's victorious Europa League campaign, scoring twice.
Asked about Kounde at the presentation of Marcos Acuna, Monchi replied: "It is true that we have received the interest of a club for Jules, that club has transmitted an offer to us that has been valued and has been rejected.
"If they make another offer, we will listen to them again and we will answer but only we can choose when we will answer them.
"I doubt very much that Kounde has reached an agreement with City, because he has a contract with Sevilla. I already tell you that Kounde has not reached an agreement with Manchester City."
Sevilla will face Bayern Munich in the UEFA Super Cup on Thursday and Monchi expects Kounde to be firmly focused on that clash.
"Knowing Kounde, I am sure he thinks more about Bayern players than other things," he added.
"We have a business model that has brought us 20 finals to this city, 10 titles. My recommendation to the steering committee is that we don't change it.
"We have done very, very, very, very, very well, I see no reason to change it.
"We have the possibility to say no to an offer that multiplies by more than two and a half the price of a player that everyone said was expensive.
"If we have said no, it is because we can say no. But, I repeat, our model is very clear and that model has made us win 10 titles and play 20 finals."
