Monaco have turned down a world-record fee of around €120 million euros (£103m) from Real Madrid for 18-year-old striker Kylian Mbappe.
The bid was lodged in the last few days and would beat the €100m Manchester United paid Juventus for Paul Pogba and the fees paid by Real for Cristiano Ronaldo and Gareth Bale.
The French champions are, instead, hoping to agree a new deal with Mbappe and have no intention of selling him this summer despite the worldwide interest. Crucially they may sell next summer, however, after the World Cup.
Monaco vice-president and chief executive Vadim Vasilyev steadfastly refused to discuss details of any bids for Mbappe, who is the most wanted player in Europe, and insisted that such negotiations were confidential.
Vasilyev would not confirm Real’s interest, although sources close to the offer have suggested it is genuine.
Vasilyev said: "The plan is to do everything to prolong him (Mbappe) and to do everything that he stays a minimum one more year with us."
Asked directly whether Monaco will turn down bids for Mbappe, Vasilyev added: "We will, although that will depend, of course, also on the player. We will make an offer to prolong his contract and hopefully he will accept and stay with us. I think in the month of June, before the season starts."
Mbappe, with 15 goals, has been a revelation this season. He has helped lead Monaco to their first title for 17 years and also into the semi-finals of the Champions League.
Vasilyev added: "He will definitely be one of the top players in the world. He has everything to succeed. He has the skills, the technique, the speed, the mentality, the competitive spirit. He has a great family who surround him. He has all the ingredients to be a world success."