Cruzerio director of football Alexandre Mattos says only an "absurd" offer from Manchester United could force them to part with midfielder Everton Riberio.
The Brazilian club have rejected offer in the region of €10m for the 24 year old, who joined the club from Coritiba last January.
Riberio has scored 15 goals in 53 games since joining the club, sparking interest from afar including from Liverpool, but Cruzerio claim that reports of a bid from United is wide of the mark despite admitting a big offer would force their hand.
"There are no offers, just speculation," Mattos told Globo Esporte.
"Everton Ribeiro said he dreams of playing for Manchester United, then people started talking, and they said he would cost €8 million [£6.7m] - that makes no sense.
"We turned down a €10m [£8.3m] offer [from a club in the Middle East] for the percentage we own and that happened halfway through the season.
"Cruzeiro don't want to let any player go. On the contrary, we want to bring in more players and that's not me talking, the president said that.
"Of course we are responsible, and if an absurd offer for Everton Ribeiro or any other player comes, we have to sell."
United boss David Moyes has admitted the club will look to make signings in the upcoming January transfer window but a move for Riberio in the middle of the season would be a surprise not least due to his lack of experience of playing in Europe.
South American based players have generally taken time to adapt to the pace of the Premier League, with the likes of Ramires and David Luiz not excelling at Chelsea until their second season in west London.
The Brazil under-20 international is highly unlikely to feature with the full national team at next summer's World Cup, but a move to Europe would go some way to proving he has the aptitude for international football.