Real Madrid president Florentino Perez has insisted it would be "impossible" to allow Sergio Ramos to leave the club for free.
Los Blancos skipper Ramos, 33, has informed Perez that he has received an attractive offer from a Chinese Super League club.
But China's football authorities have placed a 100 per cent transfer tax on overseas players and if Ramos was to quit LaLiga for the unnamed club he would have to leave for free.
Perez told Spanish radio station Onda Cero that he had spoken with Ramos about the offer.
"Sergio Ramos has not been in my house nor I in his, they came to see me at the office," Perez said.
"They told me that they had a very good offer from China, but that the rules there do not allow to pay the transfer.
"I told Ramos that it was impossible for Real Madrid to let their captain go for free. I do not give it more importance."
It has been reported that Ramos, who has been with Real since 2005, is determined to leave the club this summer following a fall-out with Perez over their Champions League exit to Ajax.
