Primera Liga giants Atletico Madrid have denied reports that Sergio Aguero has signed a new deal with the club.
Despite reports in Argentina the striker had signed a deal to 2015, the Spanish club's insiders insist there is still some way to go before they can secure his signature.
Atletico president Enrique Cerezo has rejected the latest rumours and with the player's contract due to expire in just two years time, both Chelsea and Manchester United will be made aware of the situation.
Cerezo said on the club's official website: "We've signed nothing and we still have time to talk about the renewal of Aguero. The day we have something official, we will let you know."
The club are eager for all parties to see a new agreement signed before the January transfer window opens.
However, Aguero's agent Jose Segui admits there is interest from Premier League clubs but he claims 'Kun' wants to stay at the Vicente Calderon claiming the player is 'happy in Madrid and happy in Spain'.
The brilliant 22-year-old has long been admired by Carlo Ancelotti and Sir Alex Ferguson, but Atletico could demand a fee in the region of £50million for his services if he fails to sign a new deal.