Manchester City yet to bid for De Bruyne, according to Wolfsburg

Wolfsburg insist they're yet to receive any offers for Kevin De Bruyne after denying reports Man City had lodged a £50m bid for the player.

Wolfsburg chief Klaus Allofs has told theBild am Sonntag that his club are yet to receive an official approach from City - or any other club - for the Bundesliga Player of the Year, despite reports last week that Manuel Pellegrini's side had submitted a £50million offer for the Belgium midfielder.

"There are, according to some advisers, some clubs that show interest, but there is no official offer, because we have made our position quite clear," Allofs said.

Wolfsburg have said they do not plan to sell De Bruyne, 24, but have acknowledged that they would be open to an "extraordinary offer," and Allofs said he could not rule out a sale.

"I don't want to let myself get carried away because I've had some bad experiences doing that, but I've gone quite far by saying that it is 99.9 percent likely that Kevin will stay with us," he said, although he reiterated that it is "unlikely that Kevin will stay with us until the end of his contract in 2019."

Allofs insists Wolfsburg are not in any rush to sell De Bruyne, with the club, who finished runners-up to Bayern Munich in the Bundesliga last season and won the DFB Pokal, financially strong because of their ownership by Volkswagen.

Allofs added: "I've already said that we are not a club that depends on transfer income to determine our plans. Even so, I go back to what I've always said: If there is the possibility for a player to earn a truly exceptional amount of money, we have to deal with it seriously. Anything else would be wrong."

However, he does admit that while Wolfsburg are strong financially, they are not in a position to compete with football's super-powers.

He added: "We're not in the same league as Bayern Munich, Manchester City or Real Madrid.

"Our salary budget is about a third of Bayern's."

De Bruyne's agent said last week that the former Chelsea midfielder would not request a transfer, and Allofs said: "I can only say that Kevin's behavior has been very professional."

If Wolfsburg were to sell De Bruyne, the funds would be likely to be reinvested as they seek to challenge Bayern for the Bundesliga title in the near future.

"The gap to Bayern remains, but it would be nice if we could be the first in line to fill that gap," Allofs said. "Whenever Bayern may stumble, we want to be there."