Bayern Munich have denied reports that they have signed Athletic Bilbao midfielder Javi Martinez.

Various outlets reported that a deal had been done between the two clubs to take the Spain international to the Allainz Arena for a fee of £31m.

However, Bayern have refuted these claims, saying that although they are still keen on bringing the 23-year-old to the club, they wouldn't be willing to spend that much on him.

"There has been no movement in this affair, from our point of view," media officer Markus Horwick told Deutsche Presseagentur.

"It's still the case that we will not pay €40m (£31m) as a transfer fee for the player."

Martinez was part of the Spain squad that won the 2010 World Cup and 2012 European Championships.