Santi Cazorla claims he will be staying at Villarreal, on the day the club snapped up Javier Camunas.
Spain international Cazorla has been strongly linked with a move to big-spending Malaga.
The ambitious Primera Liga outfit are now backed by Qatari investors and have been busy scouring the market for top talent all summer.
It was claimed that they had a deal in place to bring Cazorla on board, with a €20million offer on the table.
However, the 26-year-old winger has played down such talk and insists he is looking to remain at Villarreal.
"There is no agreement between the clubs," Cazorla said in Marca.
"I am fine here and I am a Villarreal player. There is nothing else to say."
Meanwhile, Villarreal have agreed a deal for Osasuna's attacking midfielder Camunas.
The 31-year-old is set to pen a contract with the Yellow Submarines that will tie him to the club until 2014.
The completion on the switch is subject to the player successfully passing his medical and the relevant paperwork going through.