The Real Madrid defender seemed destined for the Bernabeu exit this summer, with reports suggesting the Portuguese defender was going to be used as a makeweight in the deal that took Gareth Bale from Spurs to Madrid.
However, Coentrao was excluded from that move, which prompted Manchester United boss David Moyes into making a deadline day move for the 25-year-old full-back.
Yet again, a move failed to come to fruition, with reports claiming United failed to submit the necessary paperwork before the 11pm deadline on September 2, putting an end to any hopes that Coentrao had of linking up with the Old Trafford club.
But the left-back insists he's happy to stay in the Spanish capital, and has taken a swipe at both Tottenham and Manchester United in claiming that he's already playing for the "best club in the world".
Speaking to Portuguese newspaper O Jogo, Coentrao - who played for his national side in Friday night's 4-2 World Cup qualifying win over Northern Ireland - said: "There was the possibility of joining Manchester United, but I stayed at Real Madrid, and that's what matters," he declared.
"It would have been bad if I had to stay despite having the chance to move to a better club, but that didn't happen as I already am at the best club in the world.
"I want to do better than I did last season, although I was at a very high level already. I want to show everyone that I deserve to be at Real Madrid."
Coentrao's comments come after reports in the 25-year-old's homeland claim he was upset when a move to United failed to go through.
David Moyes has been on the lookout for a new left-back all summer. With his long-running pursuit of Leighton Baines proving unsuccessful, the United chief turned to Coentrao, only for the switch to fall through right at the last minute.