Monaco vice-president Vadim Vasilyev has confirmed the club has received ‘very big enquiries’ for Kylian Mbappe but have not agreed any deal.
Reports in Marca on Tuesday stated Madrid had agreed a world-record €180m deal for the in-demand 18-year-old striker but the French champions have denied these reports.
"I have read a few articles in the press," Vasilyev is quoted by ESPN as telling RMC Sport.
"Today, we don't have an agreement with Real Madrid, nor with any other club.
"We do, however, have very big enquiries. All the big clubs want him. He's the most promising player in European football so it's normal there is so much attention around him.
"We remain fixed on the same objective. We're talking about a contract extension that has to fit with the economic model of the club.
“I hope we'll manage to do that. It's a very important decision, especially for Kylian.
"It's not easy to handle this situation, but he's doing it very well. I repeat: there is no agreement, Monaco's wish is to extend his contract.
“But you have to give us time to talk to the player and his family."