Real Madrid president Ramon Calderon has claimed the club turned down the chance to sign Daniel Alves.
The Real supremo says that coach Bernd Schuster was satisfied with the players he had and he did not require the Sevilla full-back.
Real, along with Chelsea, were closely linked with a big-money move for Alves but in the end the flying Brazilian remained with Sevilla as no deal was finalised before the transfer deadline.
"Madrid could have bought Dani Alves, but it did not happen because the coach felt he had the best team in Europe," said Calderon told Veo TV.
"Right now Real Madrid have the best team in Europe. We may not have the best players, but we do have the best team on the continent."
Champions Real have made an excellent start to the new Spanish season with back-to-back wins over Atletico Madrid and Villarreal.