Atletico Madrid president Enrique Cerezo has denied the club have made moves to sign Arsenal playmaker Santi Cazorla.
The 28-year-old cost Arsene Wenger in the region of £12million when he moved from Malaga last summer, with the player going on to score 12 goals in his debut season at the Emirates.
Reports on Wednesday suggested Atletico chief executive Miguel Angel Gil Marin had opened discussions with the Gunners over a possible £17.5million deal to take Cazorla back to Spain.
However, when quizzed about a possible deal for the former Villarreal star Cerezo denied Madrid had made a bid.
"We have no news of Cazorla," he said. "They are inventions that occur every day."