The Spain U21 international is a man in demand, and Real coach Carlo Ancelotti has admitted that the youngster is looking to secure a summer switch.
Wolfsburg have also been open in their efforts to land a new frontman, with Chelsea’s Romelu Lukaku among those to have been linked with a move to Germany.
The Bundesliga outfit are adamant, though, that Morata is not on their transfer wish list.
Allofs admits to being an admirer of the talented 21-year-old, but insists there is no substance to speculation suggesting an official approach has been made.
He told Wolfsburger Nachrichten: “Morata is a very good young striker, there is no doubt about that.
“However, those reports are pure rubbish. Our club has not tabled any bid for the services of Alvaro Morata.”