Franck Ribery's agent claims Bayern Munich have set no deadline for contract talks with his client.
Reports had suggested that the Frenchman had been given until the end of March to make a definitive decision on his future.
Bayern are keen to know where they stand, with Ribery's current contract at Allianz Arena set to expire in 2011.
That has led to speculation that he could be sold in the summer were he to opt against extending that deal.
Ribery is set to met with Bayern officials before the end of the season to discuss the issue, but his representative insists there is no rush for those talks to be put in place.
"Franck has a contract until 2011 and so Bayern hold all the cards in their hands," Alain Migliaccio told Bild.
"Before we meet with (Bayern's chief executive Karl-Heinz) Rummenigge, (president Uli) Hoeness and (director of sport Christian) Nerlinger, nothing will happen."
He added: "The story about the ultimatum is absolute nonsense, nobody has given Franck an ultimatum.
"We are waiting to see what the club wants to do."
Meanwhile, Croatian striker Ivica Olic has denied telling a newspaper that Ribery could be frozen out at Bayern if he continues to stall on signing a new deal.
"There is nothing, absolutely nothing right with these quotes," he said in a statement released through the club.
"These remarks which I am supposed to have said are completely invented.
"I told them (Vecernji newspaper) that Franck Ribery is one of the best footballers in the world, but that he has been out for three months and is therefore not playing yet.
"I said nothing more and nothing less than that."