AC Milan vice-president Adriano Galliani claims that the Italian club would need to sell a big-name player before making any possible move for Luis Fabiano and he has also implied that they do not need Joe Cole.
Speculation is rife that Brazil and Sevilla striker Fabiano is set to move to the San Siro, with his agent declaring that "either he goes to Milan immediately or he stays at Sevilla one more year".
The 29-year-old has one year left on his contract and said last weekend that he does not intend to renew opening the door for a move elsewhere this summer.
But Galliani said: "Let's leave Luis Fabiano be, he's playing in the World Cup and belongs to Sevilla. There are no negotiations going on.
"In order to come here a great or very great player has to leave Milan. And for me Luis Fabiano is a very great player.
"However, we don't make big-name players leave."
Galliani insists Milan have to sell before they buy, adding: "The arrivals have to be in proportion to those who leave.
"I'll summarise: Dida left and (Marco) Amelia came, (Giuseppe) Favalli left and (Mario) Yepes came, more in general if a big-name leaves a big-name comes, if a lad who completes the squad as a 24th man leaves then a lad comes in who is able to be the 24th man.
"But the big, big, big, big-name players, we don't sell them for our choice."
Cole is another name that has been linked to Milan, with the England international out of contract after being released by Chelsea.
However, Galliani is adamant the Rossoneri have no intention of signing the 28-year-old.
He said: "What would we do with Cole? Milan have a very complete squad."