Atletico Madrid president Enrique Cerezo has admitted interest in Real Madrid attacker James Rodriguez.
Napoli are regarded as favourites to land James, though Atletico have also been linked.
"Atletico are interested in great players and James is a great player, but from that to he's going to come, there's some distance," Cerezo said.
"Negotiations? Not that I know of, no."
He added: "Everything's going well, the team is training well, blending in well and very happy at Los Angeles de San Rafael.
"Now we're waiting for next season with a month left to go."
