Atletico Madrid president Enrique Cerezo has moved to deny suggestions his star striker Falcao is on the brink of agreeing a deal to join Real Madrid next summer.
Reports emerged on Thursday which included apparent quotes from Cerezo suggesting "Falcao has had something signed with Real Madrid for some time", but he has emphatically dismissed the rumours.
"I want to say it is false that Falcao has another team," Cerezo said. "I say it is false because I have not talked to anyone about the issue.
"It's absolutely false and a lie. Falcao has a contract with Atletico Madrid and there's nothing more to say. It seems there is an attempt to destabilize Atletico.
"One thing is joking and another is talking about things that aren’t true. I don’t like the fact that you put words in my mouth that I haven't said. There's no need to talk about rumours or non-rumours, and the source of the rumour has to be identified so we can end it."
Any suggestion that Real Madrid were moving into pole position to sign Falcao would have come as a hammer blow to Chelsea owner Roman Abramovich, who has been courting the Colombian striker for some time.
The reigning European champions were hoping to tie up a £48 million deal that would take Falcao to West London next summer, but they are likely to face stiff competition in the race to sign one of the world’s most wanted strikers.