Borussia Monchengladbach have insisted that Granit Xhaka will not be sold this month.
Both Arsenal and Liverpool have been linked with the Swiss midfielder in recent weeks, amid speculation that he was keen on a move to the Premier League.
However, the German side's sporting director Max Eberl has stressed that the 23-year-old is happy to remain in his current surroundings.
"There are no offers, there is no figure that I have seen in black and white and there is no contact with Arsenal," he told Sport1.de.
"I would like to say clearly once again at this point: Granit Xhaka wants to stay in Monchengladbach and we do not want to sell him.
"He is a super player for us and will contest the second half of the season here. As for the figures I have seen floating round, they amuse me."
Xhaka has scored three goals from his 26 appearances for club and country this season.
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