Real Madrid president Ramon Calderon has warned rival clubs that goalkeeper Iker Casillas, reportedly a target for Manchester United, is not for sale.
The Spain international has been linked with a move to the Red Devils this summer, with the proposed fee reported to be in the region of £31million.
'It's only a rumour,' Calderon told the club's official website.
'We haven't received any offers.
'I would consider 'cheap' Casillas being worth 45 million euros. We certainly wouldn't sell him for that amount.'
Calderon also ruled out selling defender Sergio Ramos.
Ramos, who played for Spain in the recent World Cup in Germany, has also been linked with a move to the Premiership.
'Ramos has a great future ahead of him and he is a great talent. We are not going to sell him,' insisted Calderon.