Sevilla president Jose Maria del Nido has insisted that neither Manchester City nor Tottenham have made a bid for Alvaro Negredo - but Sky Bet have suspended betting on the striker's next club after he was backed into 1/8 to make a move to the Etihad Stadium.
It has been reported that Del Nido held talks with City chief-executive Ferran Soriano on Wednesday but on Thursday he stressed he would not negotiate a cut-price deal with any club and declared that, for now, Negredo was still a Sevilla player.
He said: "Sevilla have an asking price for Negredo and if it isn't met, he will play for Sevilla next season. Tomorrow he will sleep in Seville and then he will start training with the team again.
"There have been no offers from English football, not from City, not from Tottenham."
However online bookmakers Sky Bet have reported the run of bets amid Spanish media reports that City launched a £24m bid.
Negredo, 27, scored 25 goals for the Andalucian outfit as they endured a disappointing campaign, finishing ninth in La Liga.
Former team-mate Jesus Navas has already swapped the Ramon Sanchez Pizjuan for the Etihad Stadium, joining fellow midfielder Fernandinho in signing for City this summer, while striker Carlos Tevez has left for Juventus.
Sky Bet football trader Chris Spicer said: "Atletico Madrid had been backed to land Negredo following Falcao's departure but the last few days have seen City emerge as favourites.
"Additional firepower looks essential given their troubles in front of goal last season and they have previously been backed to bring in Isco and Edinson Cavani, but Negredo now looks to be man."
Meanwhile, speaking to reporters at a promotional event, Del Nido also declared that the Argentine centre-back Nico Pareja would join the club on loan from Spartak Moscow next season, with Sevilla retaining the option to buy him when the loan deal expires.
"I've spoken to him and we still need to iron out some details with Spartak, but if there are no complications, Nico Pareja will travel to Seville tomorrow (Friday)," he said.
"The player has made a huge effort to come to Sevilla by renouncing part of his contract, and I am as excited about signing him as I am about any of the big names in football."