Real Sociedad president Jokin Aperribay has denied reports claiming his club is negotiating with Real Madrid for the return of Asier Illarramendi to the Basque outfit.
Illarramendi, 25, joined Los Blancos two years ago from La Real in a €32.2 million transfer.
The Spain international played 41 games for the Bernabeu outfit in all competitions this past season but started in only 15.
The Spanish press recently reported that he could return to San Sebastian this summer to earn regular playing time -- but Aperribay has rejected the speculation.
"We haven't had any contact with Real Madrid, nor with the player or his agents," he said, as reported in Spanish radio station Cope. "It is not something we have considered.
"We wanted to make three reinforcements and we already have those covered."
La Real, coached by David Moyes, have made three acquisitions this summer but have no plans to make any other moves in the transfer market.
Brazilian forward Jonathas, who scored 14 goals in La Liga last season with Elche, signed this week for the Basque club.
The outfit had earlier signed two players on loan for the 2015-16 campaign -- Mexican defender Diego Reyes from Porto and Portuguese winger Bruma from Galatasaray.
"David Moyes had requested several priorities that have already been covered, like a central defender, a winger and a striker," Sociedad sporting director Lorenzo Juarros said.
Illarramendi has been likened to former Real star Xabi Alonso and is under contract with the club until June 2019.
He has endured a frustrating preseason, sitting out games against Manchester City and Inter Milan after sustaining a muscular injury in training in Melbourne, Australia.
Illarramendi is expected to miss Thursday's International Champions Cup game against AC Milan in Shanghai, China.
The Basque-born player is behind Luka Modric and Toni Kroos in the pecking order and will also have to compete for minutes with Brazilian midfielder Casemiro.
Casemiro returned to Real earlier this summer after a successful season on loan at Porto.
Meanwhile, AS claims that Los Blancos are on the verge of acquiring Real Zaragoza centre-back Jesus Vallejo.
According to the sports paper, negotiations are advanced and the deal could be completed this week.
Vallejo captained Spain's under-19 side that won the European Championship in Greece earlier this month.
Real, AS says, will pay Vallejo's release clause of €6 million and then loan the player for one of two seasons to Real Zaragoza.
Vallejo, 18, was linked to Serie A side Udinese in recent months while Valencia, Barcelona and Villarreal are also reportedly interesting in signing the Zaragoza-born player.
Vallejo made 34 league appearances for Real Zaragoza in the Segunda Division this past season and is under contract with the Aragon-based club until June 2019.