Antonio Valencia's agent has stated that Real Madrid have not made an offer for the Wigan winger since January.
It was understood over the weekend that Wigan had received two bids in excess of £16million for the Ecuador international.
Real and Manchester United were both believed to have tabled offers but Valencia's representative, Diego Herrera, insists there has been no contact with the Spanish club for some time.
And Herrera is not sure whether Real will rekindle their interest following the appointment of Florentino Perez as president at the Santiago Bernabeu.
"The only official (offer) from Real Madrid for Antonio was last January," Herrera said in The Independent.
"The offer came from the previous president but Florentino is over there now so I don't know if they are going to go for him again."
Valencia, who was heavily linked with a move to Real during the winter transfer window, is expected to leave the JJB Stadium ahead of the 2009/10 season.
According to Herrera, the departure of Steve Bruce has convinced Valencia to embark on a new challenge elsewhere.
"It is the right time for him to leave, now that the manager has left," said Herrera.
"He feels it is time to move on."