Schalke sporting director Horst Heldt says he is extremely confident that Julian Draxler will not be leaving the club in the January transfer window.
Arsenal have been strongly linked with a move for the 20-year-old winger with several sources claiming a delegation had been sent to Germany to thrash out a January deal.
Despite denials from both Arsene Wenger and Schalke officials, speculation of a £30m deal continued with John Cross of the Daily Mirror claiming Arsenal were confident of sealing a deal before Friday's deadline.
However, Heldt, who has always denied Arsenal's interest, has again reiterated that no Arsenal representatives are in Germany and no talks are ongoing.
He is also increasingly confident that Draxler will not only be with the Bundesliga outfit for the rest of this season but next season too.
"We are happy to have such a world class player in our lines. I am very convinced that Draxler will be playing for us in the Rueckrunde [second half of the season] but most probably beyond that," he said in a press conference.
"We are not interested in letting Julian leave, and he has also not approached us about a transfer."
On reports of Arsenal representatives being present in Gelsenkirchen to negotiate a deal, he added: "I checked my office if someone was waiting for me, but nobody was there.
"Of course, there are always other clubs interested in him, and should someone make a serious offer for him, then we as a club have to professionally consider that. That does not only apply to Julian Draxler, but to every other player."
There has also been plenty of talk about Draxler's release clause, reported to be £37m. While Arsenal were thought be considering meeting it, Heldt claims it is no longer valid.
"That agreement was only in place for last year, from now on the transfer fee is up for negotiation," he said.
It's a blow for fans of Arsenal, who were hoping to see major reinforcements before the end of the transfer window. Arsenal lost their place at the top of the Premier League for the first time in 2014 and may need something special to claim it back off of Manchester City.