Manchester City have told Real Madrid that Sergio Aguero is not for sale at any price, according the the Daily Mirror.
Reports in Spain revealed that talks between Real Madrid and the Citizens took place over Real's interest in Aguero.
City chief executive Ferran Soriano contacted the Los Blancos president Florentino Perez to tell him that the Argentine striker would not be leaving the Etihad in the near future.
Manchester City currently have no need to raise funds through player sales and see Aguero as a key part of the team as they look to win a second Premier League title and the Champions League.
Aguero himself is believed to be settle in Manchester and has no plans to leave. He even stopped talking to the Spanish media through fears of being linked to Real.
The striker joined City from Real's arch-rivals Atletico in the summer of 2011 before signing a contract extension last summer. Some believed that City was a stepping stone for Aguero but their growing stature in Europe has convinced him that his long term future belongs in Eastlands.
Manchester City are confident of keeping Aguero after deeming him "unsellable" and have told the club's marketing men to start using him more in promotional campaigns.
There was also believed to be discussions about Real Madrid defender Pepe but Perez sang a similar tune to his counterpart, telling Soriano that the Portuguese defender will not be available for transfer.