The Austria international, whose current contract expires in June, has been heavily linked with a move to Santiago Bernabeu in recent weeks.
David Alaba's father has addressed reports linking the exit-bound Bayern Munich defender with Real Madrid.
Alaba has been tipped to close the book on his 12-year career at Bayern at the end of the season.
The German champions tabled a fresh contract offer for the 28-year-old early in the campaign, but he refused to compromise in negotiations with regards to an increased salary.
Reportely Madrid have already tried to capitalise on the uncertainty surrounding Alaba's future by offering him terms at Santiago Bernabeu.
However, the Austria international's agent Pini Zahavi has reportedly made it clear that his client will only join the Blancos if they agree to make him the club's highest earner ahead of Sergio Ramos, who currently takes home an annual sum of €12 million ($15m/£11m).
Premier League giants Chelsea and Manchester United have also been credited with an interest in Alaba in recent months, but it has been suggested that the Bayern star would prefer a move to Spain.
Madrid continues to be touted as the most likely next destination for Alaba, who is free to sign a pre-contract agreement with any potential suitors now that the January transfer window is open.
However, George Alaba claims that his son has yet to make a final decision, with a possible switch to Madrid one of several options currently available to him.
The Bayern talisman's father told Sport 1: "A decision has not yet been made and David has not yet signed with Real. Besides Real, there are other clubs that are interested in him.
"For him what counts is that he wants to concentrate fully on Bayern and his performance "
While some club officials are resigned to losing Alaba later in the year, head coach Hansi Flick still believes there is a chance he could commit to fresh terms at Allianz Arena.
“He is very important to us, on and off the pitch. He is very popular and supports young players," Flick told Sky Germany after Bayern's 5-2 win against Mainz on January 3.
Alaba will be back in contention for a place in the Bayern starting XI when they take in a trip to Augsburg in the Bundesliga on Wednesday night.