Arsenal insist they have yet to receive a bid from Chelsea for left-back Ashley Cole.
Reports today claimed the Gunners would seek a fee of up to £30million for the England player, 25, if Chelsea do make an approach.
Chelsea boss Jose Mourinho has stated his intention to sign a new left-sided defender, following Asier del Horno's return to Spain after a difficult year at Stamford Bridge.
With Del Horno moving to Valencia, Chelsea have England international Wayne Bridge as their only recognised senior left-back, however central defender William Gallas is also capable of performing the role.
Arsenal boss Arsene Wenger accepted Cole could leave before Arsenal begin their first league campaign at the Emirates Stadium, but stressed there had been no movement yet on Chelsea's part.
'There is nothing going on with Ashley at the moment,' said Wenger, after Arsenal's 2-1 friendly win at SV Mattersberg in Austria last night.
'There is no offer and we are not talking to anybody about him.
'I am always confident of holding on to a player, but if you want me to sit here and guarantee he will be an Arsenal player next season I cannot do it.
'He only has two years left on his contract and we have not made any movement in that regard and when you have a player in that situation you cannot say much.'
Chelsea have also offloaded Damien Duff, another left-sided player to Newcastle, but they have so far refused to comment on speculation linking them with Cole.
Boss Jose Mourinho stated last week: 'Ashley Cole is an Arsenal player. It's not correct to say anything about him.'
But he stressed that, with Del Horno leaving: 'The transfer window is open and for sure we'll have two left-backs.'