Celta Vigo president Carlos Mourino admits they face selling Gabri Veiga this summer.
Real Madrid have been linked with the young attacker, along with Arsenal and Liverpool.
Mourino said: "There are several teams that are after Gabri.
"Real Madrid? They didn't ask us, we don't know if they called the player. Of the top ten in the Premier League, four asked us about him.
"For us, and that must be clear, he is not for sale. We have no one to negotiate with. We refer to the clause."
The youngster's contract contains a buyout clause of 40m and staying beyond the season seems unlikely: "The decision is up to Gabri, he will play wherever he wants."