Borussia Monchengladbach sporting director Max Eberl has told kicker there is a "zero percent chance" that Mahmoud Dahoud will leave the club in January.
Midfielder Dahoud, 20, was one of the club's stars of last season and has been strongly linked with both Borussia Dortmund and Liverpool.
The Germany under-21 international has played in only 10 of Gladbach's 18 competitive matches under coach Andre Schubert this season, leading to speculation that he could join Dortmund in a swap deal with Nuri Sahin.
But Eberl said: "There is no offer and there has been no offer from any club."
He said the chances of Dahoud moving on in the forthcoming window "as of today are zero percent."
However, he said Gladbach could be forced to sell Dahoud next summer should he fail to agree a new contract.
"Should he go into his final year of his contract next summer, you have to automatically consider what to do," he said.
"But it's all speculation right now. Our wish is to extend his contract, no question. It hasn't happened yet, but we are in constant talks."