Real Madrid have issued a statement denying that a world-record transfer fee has been agreed with Paris Saint-Germain for Kylian Mbappe.
Reports originating in France claim that Madrid have agreed a fee, thought to be €272m (£240m), for the 19-year-old forward.
However, a statement released by the Spanish club on Wednesday read: "Given the information published in the last few hours regarding an alleged agreement between Real Madrid C.F. and PSG for the player Kylian Mbappe, Real Madrid would like to state that it is completely false.
"Real Madrid has not made any offer to PSG or the player and condemns the spreading of this type of information that has not been proven by the parties concerned."
Mbappe became the second-most expensive player in history when he joined Paris Saint-Germain on a permanent deal from Monaco for £166m earlier this year.
The striker is currently away on international duty with France at the World Cup in Russia, where he has scored three goals.
Madrid have also denied making an offer for Mbappe's club team-mate Neymar.
Spanish state television channel TVE reported that the Bernabeu club had put forward a world-record bid for the Brazilian star.
However, Madrid have denied launching an offer, which would have beaten last summer's £200m deal to bring Neymar to the French capital from Barcelona.