Bayer Leverkusen sporting director Simon Rolfes says the club has not yet received an official bid from any club for Kai Havertz.
The 21-year-old is keen for Leverkusen to agree a deal with Chelsea, believed to be in the region of £70m, before their Europa League match against Rangers next week.
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However, Rolfes told Sky Germany that Havertz will not leave the Bundesliga side just yet as Peter Bosz will be allowed to finish the European season with his full current squad.
"So far we have no offer," he said. "We know about the interest of clubs, but there is no official offer.
"We have said several times that we will end the season with our entire squad. And that includes Kai. That goes without saying for us."
Earlier this month, Sky Sports News' Kaveh Solhekol reported that Chelsea are the favourites to sign the German but were not willing to pay his £90m asking price.
Havertz, who has two years left on his current deal and is keen on a move to the Premier League, has since returned to train with Bayer Leverkusen.
Chelsea are also expected to be in the market for a goalkeeper during the window as they look to complete another big summer transfer deal.
Transfer Talk: Why Havertz is the real deal
Chelsea target Kai Havertz has been tipped to become "an absolute superstar in the next few years" by German football expert Rafael Honigstein.
He told the Transfer Talk podcast: "He has work to do and has things to prove because he's only just turned 21 but he's an outstanding talent, there's absolutely no doubt about that. He's in a position where he could dominate the German national team over the next decade, depending on his position.
"Will he play in the No 10 role and become the new Mesut Ozil or will he settle a bit deeper and become the new Toni Kroos? He's got the ability to play almost anywhere in front of the defence.
"If you look at the unique combination he has of technical ability and eye for a pass, but also having the ability to score and create goals himself, and his runs to be good in the air, I think the best way to sum it up is that he's a cross between Mesut Ozil and Michael Ballack.
"Both of them individually in their prime were pretty good players but a combination of both players in their prime, he'll be an absolute superstar. All the indications are that he will turn into an absolute superstar in the next few years."
The summer transfer window will run for 10 weeks from July 27 and close at 11pm on October 5.
A domestic-only window for trades between the Premier League and EFL then runs from October 5 and closes on Friday October 16 at 5pm. Follow all the news and analysis on Sky Sports News and across Sky Sports' digital platforms, including with our dedicated Transfer Centre.