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Santos president Marcelo Teixeira has dismissed Real Madrid's claims that they have sealed a deal for Robinho.
The Brazilian seems certain to end up at El Santiago Bernabeu in the future, but the South American side say no deal has been completed, and will not be until the summer.
Real's director of football Arrigo Sacchi had claimed that the Spanish giants had sealed the move to sign Robinho.
Real Madrid are reported to be closing in on the signature of Brazilian international Robinho.
The skilful attacker has been a long-term target for Madrid with the Spanish giants having held talks for Santos for some time.
The Brazilian wonder-kid is regarded as one of the best young talents in world football and he showed his undoubted potential in scoring for Brazil in Thursday's 3-0 win over Greece in the Confederations Cup.