Real Madrid have not made an approach for Liverpool boss Rafael Benitez, according to the manager's agent.
Benitez is the former coach of Spanish side Valencia
Fabio Capello is currently in his second spell in charge at the Bernabeu but has not made the expected impact, with the team third in La Liga.
Benitez has been linked with the coaching role and his agent Manuel Garcia Quilon said: "I have heard the rumours in the Spanish media.
"However, as far as I know, Real Madrid have not shown an official interest."
The 46-year-old Liverpool coach signed a four-year contract extension with Liverpool last June.
And Garcia Quilon added: "I cannot speak for Benitez, but the fact is that he has three years left on his contract with Liverpool."
Benitez was coach of Spanish side Valencia before his move to the Premiership.
While in charge at the Mestalla he won two league titles and one Uefa Cup.
German Bernd Schuster - currently in charge of Spanish side Getafe and a former Real player - has also been linked with the Madrid club, as has Chelsea boss Jose Mourinho.