Real Madrid president Florentino Perez said on Thursday the club was satisfied with goalkeeper Keylor Navas, but refused to deny local press speculation the European champions would sign a replacement.
Manchester United stopper David de Gea and Chelsea's Thibaut Courtois have both been linked with a switch to Real Madrid as Coata Rica international Navas's form has dipped.
"We won't deny all rumours, but we won't be working on a transfer before the end of the season," Perez said when asked about reports in Marca and AS that the De Gea dossier was in advanced stages.
"We are satisfied with Keylor Navas."
Madrid came close to signing De Gea, a former Atletico Madrid player, two seasons ago only for a a technicality to scupper the switch on deadline day.
Madrid coach Zinedine Zidane leapt to the defence of Navas in mid-January.
"Leave him alone and stop talking to him about it, he's fine, he was the 'keeper of the team that went 40 matches unbeaten remember," the Frenchman said.