Benfica president Rui Costa has confirmed that no deal has been agreed with Real Madrid over the sale of defender Alvaro Carreras.
Real Madrid are entering a new era under the guidance of Xabi Alonso, who is set to begin his tenure at the Club World Cup after replacing experienced manager Carlo Ancelotti.
Los Blancos have already added three new faces to Alonso's squad, including the signing of Trent Alexander-Arnold from Premier League champions Liverpool.
Real Madrid have also strengthened their central defensive options with the addition of Dean Huijsen, while Franco Mastantuono will bolster the club's attacking department when he arrives in August.
Benfica's Carreras is another name who has been linked with a move to the Santiago Bernabeu, although Costa has now knocked back the suggestion that a deal has already been agreed between the two clubs.
Costa responds to Carreras rumours
As per Football Espana, the Benfica president said: “Carreras is going to play the Club World Cup with us and he is a Benfica player.
"We haven’t reached any agreement with Real Madrid for him. There were proposals that weren’t to our liking, in Alvaro’s case, and for other players.”
According to transfer expert Fabrizio Romano, the left-back has already reached an agreement with Real Madrid over personal terms.
Carreras has a €50m (£42.6m) release clause in his contract, although Real Madrid are keen to agree a fee lower than that amount.
The former Manchester United man could feature on Monday when Benfica kick off their Club World Cup campaign against Argentinian side Boca Juniors.
Benfica will then face New Zealand's Auckland City and German champions Bayern Munich in their final two matches of Group C.
Why are Real Madrid looking for a left-back?
Real Madrid currently have Ferland Mendy and Fran Garcia as their main left-back options, while Eduardo Camavinga has previously operated on the left side of defence when called upon.
However, Mendy and Garcia both failed to convince at times during the 2024-25 season, reinforcing Real Madrid's need to sign a top-quality left-back.
At least one of the pair could move on this summer if Real Madrid are successful in their efforts to sign a new left-sided defender.