Arsenal are widely reported to be leading the chase for the Real Madrid midfielder, who could be surplus to requirements at the Santiago Bernabeu with his German team-mate Toni Kroos joining the club from Bayern Munich.
Chelsea are also said to be keen, with his former Real boss Jose Mourinho a confirmed fan.
However, his agent Jorg Neubauer says he has not heard anything from either club.
“We are not in talks with Arsenal,” Neubauer is quoted by the Daily Telegraph.
“I don’t think a fee can have been agreed, otherwise I would have been told.
“When a club have an interest I am sure they will call me and we will speak about things. The same goes for Chelsea.”
Khedira has one-year left on his current deal and Neubauer insists talks are ongoing with Madrid.
“We are talking to Real Madrid about his contract, but nothing is close to being decided,” said Neubauer. “Sami has just returned from the World Cup and has gone on holiday.”