Schalke sporting director Christian Heidel has said that the club have no intention of selling Max Meyer to Liverpool or any other club this summer.
Meyer, 20, is due to feature for Germany at the Rio Olympics next month after scoring five goals in the Bundesliga last season.
There had been rumours Liverpool were lining up a €33.5 million offer for the attacking midfielder.
However, Heidel told German sports paper RevierSport that such talk was an "invention of the Bild newspaper."
"There's no ambition to sell Max Meyer," Heidel said.
Heidel replaced Horst Heldt at Schalke in June and the former Mainz sporting director said he is pleased by what he has seen of Meyer so far.
"To be honest, Max has surprised me in a good way," he said.
"From the outside, I didn't think he was as strong as I see him now.
"The lad has been excellent in preseason until now, both in training and in friendly matches."