CSKA Moscow have dismissed claims they have agreed to loan striker Vagner Love to Everton.
The Toffees have been very strongly linked with a move for the Brazilian international and sources in England claimed a deal was almost done.
However, CSKA director general Roman Babaev insists nothing has been agred.
"It isn't true that we have loaned Vagner Love to Everton," Babaev told Sport.
"There are no negotiations about that."
Everton have yet to make a major move into the transfer market this summer and manager David Moyes has admitted he would have liked new faces in before now.
Moyes has just sold Andy Johnson to Fulham for more than £10million and needs another striker but it remains to be seen whether Love will be on his way to Goodison.