Cardiff City boss Dave Jones has told Sky Sports that Manchester United have not agreed a deal for Adam Matthews.
A host of Premier League clubs are said to be showing an interest in the exciting full-back, who has burst onto the first-team scene this term.
Reports had speculated this week that United had fended off rival interest and struck a deal for the 17-year-old.
"It is pure speculation," Jones told Sky Sports News.
"Nothing has happened, nothing has been said and at this point in time we are trying to build and if we can keep hold of all our best young players, that is the best way to do it."
Jones did admit that if United were to come in for Matthews, they would find it very hard to stand in his way.
"We have always maintained that if the right offer comes in for one of our players, and it is the right offer for this club we would listen," he continued.
"It is very difficult if Manchester United are interested, for us to say stay here and see out your contract with Cardiff and forget about going into the Premier League with one of the best clubs in Europe, we had that problem with Aaron Ramsey when Arsenal came in, if there is an offer made, then that will be done and we will look at it if it comes in writing."
The Cardiff boss admits that Premier League interest in his players is flattering.
"Every week we seem to be getting links with Premier League clubs wanting our players, last week we had Peter Whittingham linked with Sunderland, week before that Jay Bothroyd with Aston Villa, it just means we must be doing something right," he stated.