Porto have told Sky Sports that they have not received any bids for James Rodriguez after he was linked again with Manchester United.
The 20-year-old joined Porto back in 2010 and has now emerged as one of their key performers.
Reports have claimed that United are ready make a move for Rodriguez, because contract talks with Nani have hit an impasse.
But Porto insist that they have not heard anything from the Red Devils, although acknowledge that they have watched him.
"We have not received any formal offer for James Rodriguez, only rumours from the papers and that is normal for this time of year," said a Porto source.
"If something should arrive then we would study it and evaluate the situation, we do know Manchester United and other English clubs have watched various games this year."
Rodriguez has four years left on his current deal and a buy-out clause of close to £40million.