"This does not exist," president Marcelo Teixeira told the club's official website after reports the 20-year-old could follow coach Vanderlei Luxemburgo to the nine-times European champions.

"I repeat that Robinho will continue at Santos. We, the player, his father and his agent, Wagner Ribeiro, had a meeting recently and the commitment was confirmed."

Although Robinho has a contract with the club until January 2008, speculation has been mounting over his future after his mother was kidnapped in November and held captive for 40 days.

He had already been linked with a possible move to Real Madrid before his mother was kidnapped. She was released on December 17.

Luxemburgo, who led Santos to the Brazilian title last month, was named as Real coach last Thursday.

Teixeira told www.even.net: "They say that Real Madrid has hired Robinho but it seems that someone has forgotten to notify Santos.

"The player is not going to leave, he is not for sale and Santos can count on him for all of the season."

Teixeira was speaking at the unveiling of the club's new coach, Oswaldo de Oliveira, who is the replacement for Luxemburgo.

Robinho's agent Vagner Ribeiro has admitted that he had visited Spain - but did so only to celebrate the New Year.

Sources on Sunday told AS newspaper that a fee of around £16 million has been agreed for the Brazil international.

Chelsea and Benfica both tried to snatch Robinho from under the noses of Real, but the player's heart was set on moving to Spain and he insisted on Santos negotiating a deal with Madrid.

Real apparently intend to finalise negotiations this month and plan to formally announce the deal before the start of February which could see Robinho moving to Spain in June.

The arrival of Luxemburgo as Real's coach also said to have smoothed negotiations. Luxemburgo is happy to see Robinho remain in Brazil for the rest of the season.

The sensational winger will stay with Santos until their Liberatores campaign is over - the final is due to be played in July.