Monaco vice-president Vadim Vasilyev has insisted that there is no exit clause in Radamel Falcao's contract in a bid to end speculation over his future.

Falcao has been consistently linked with a switch to Real Madrid in recent weeks, despite only completing a £52m move to Monaco last summer.

Vasilyev has denied claims that Madrid could purchase the Colombian striker at a fixed price agreed in his deal, while insisting that Florentino Perez's declaration of interest was an error of judgement.

He told Marca: "I know Florentino and I have a lot of respect for him. He runs one of the best clubs in the world, but I think some of his comments were inappropriate.

"Falcao has signed a five-year deal with Monaco and I have already said a hundred times that he doesn't have an exit clause.

"We put in a lot of effort in order to sign him and it would not make any sense to allow him to leave again in January or next summer."

The 27-year-old has quickly become integral to Claudio Ranieri's plans in the principality, scoring eight times in 11 matches.