Atlético Madrid have denied that they have reached an agreement in principle with AS Monaco over the signing of defensive midfielder Fabinho.
The LaLiga and Ligue 1 clubs were believed to have struck a deal that would see the 23-year-old arrive at Atlético in January for a 45m-euro transfer fee.
However, the Madrid side say no negotiations have taken place.
Monaco midfielder a target for several European clubs
Fabinho has been on Atlético's list of potential midfield reinforcements, with the likes of Paris Saint-Germain, Manchester United and Manchester City also interested.
Fabinho a major figure in Monaco's title-winning team
The Brazil cap, who in 2012/13 had a loan spell with Real Madrid's 'B' team, Castilla - and played once for Los Blancos' senior side - was a key man for Monaco last term.
Under Portuguese coach Leonardo Jardim, the Principality outfit not only beat PSG to the French title but also reached the semi-finals of the Champions League.
Atlético unable to register new players until start of 2018
The Court of Arbitration for Sport's recent decision to uphold Atlético's transfer ban means they cannot register new signings during the summer window.