Zdravko Kuzmanovic's agent, Marco Naletilli, has denied any club has made a firm offer for the Stuttgart star, despite rumoured interest from Arsenal.
Sky Sports reports how the 25-year-old midfielder has been linked with a number of different European sides - including Juventus, Inter Milan and Sevilla - following impressive performances in the Bundesliga this year.
Gunners boss Arsene Wenger is believed to be keeping a close eye on Kuzmanovic, with a view to luring him to the Emirates Stadium, as he enters the final six months of his contract.
The Serbian will be free to speak to foreign clubs in January, and negotiate a pre-contract agreement should he desire. However, Naletilli has downplayed talk that his client's future has already been decided.
"I have not been out to do any formal talking yet," he told EstadioDeportivo. "Neither with Sevilla FC nor with any other club.
"Personally I feel it is way too early to discuss the future of Zdravko Kuzmanovic."
Wenger has a number of Arsenal midfielders at his disposal - including Mikel Arteta, Santi Cazorla, Abou Diaby, Aaron Ramsey and the fit-again Jack Wilshere, but is unconvinced that any of them can deliver goals on a regular basis.
Kuzmanovic, however, has a good track record for Stuttgart, and boasts plenty of international experience, so should be considered a potentially shrewd signing.