Real Madrid president Florentino Perez has claimed that the Spanish club have not made an offer for Tottenham Hotspur winger Gareth Bale.
The 23-year-old Welsh international has been heavily tipped to move to the Santiago Bernabeu before the start of the new season.
"He is a great player who belongs to a club we enjoy good relations with, but we have not made any offer," Perez told Univision.
Bale scored 26 goals in all competitions for Tottenham during the last campaign.