Speculation has intensified in recent weeks about the future 24-year-old, who has just played a starring role in Cruzeiro's domestic title triumph.
Ribeiro himself has revealed his ambition to join a club such as United, but his club have downplayed any suggestions that a move is imminent.
"There are no offers, just speculation," Cruzeiro's director of football Alexandre Mattos told Globo Esporte.
"Everton Ribeiro said he dreams of playing for Manchester United, then people started talking, and they said he would cost €8million (£6.7m) - that makes no sense.
"We turned down a €10million (£8.3m) offer [from the Middle East] for the percentage we own and that happened halfway through the season.
"Cruzeiro don't want to let any player go. On the contrary, we want to bring in more players and that's not me talking, the president said that.
"Of course we are responsible, and if an absurd offer for Everton Ribeiro or any other player comes, we have to sell."