Ibrahim Afellay's agent has denied that his client has agreed a deal with Atletico Madrid.
The Dutch international has already informed PSV Eindhoven that he will not be signing a new contract with the club.
His current deal is due to expire at the end of the season meaning he will either leave in January, or next summer.
Barcelona and Arsenal were amongst the first of a number of clubs to be strongly linked, but reports in Spain have suggested that Atletico had struck a deal with the midfielder.
But now his agent Rob Jansen has denied that a deal is in place with Atletico, insisting nothing has been agreed about his future.
"It is not true. We have not reached any agreement with any club whatsoever. So not even with Atletico Madrid," he told sport-promotion.nl
"I cannot comment whether in the candidates there is Atletico Madrid. That would be wrong, in my opinion.
"We're working on it now. That is the current state of affairs. But again, decisions haven't yet been taken."