Villarreal president Fernando Roig has pumped the breaks on talk of an agreement with Newcastle United over Unai Emery.
The Magpies are searching for a new man to lead their project following their Saudi takeover.
Emery is said to be one of the candidates high on their list, and the report has claimed the Premier League club will have him in place by this weekend.
But despite the presence of a €6million release clause, Villarreal president Roig has denied reports of a deal being agreed and says Emery is happy where he is.
He told A Punt Media: “Emery is very happy in Villarreal and has a contract in force.
“It is not a decision of Villarreal’s.”
A Punt Media also report that sources close to Emery have told them the current Villarreal boss has received ‘no offers’ despite talk of that agreement with Newcastle.
In the meantime, Emery will take charge of the Yellow Submarine this evening for a crucial Champions League clash with Young Boys at Estadio de la Ceramica.