Monchi claims Isco is keen to leave Real Madrid but swatted away rumours Sevilla are preparing to sign the Spain international.
Attacking midfielder Isco has made just three LaLiga starts this season for Zinedine Zidane's team, with suggestions circling in the Spanish media that he fancies a change.
Sevilla director of football Monchi appreciates why Isco has been linked with a move to the Estadio Ramon Sanchez Pizjuan, given his former Madrid and national team boss Julen Lopetegui is head coach of the Europa League winners.
But Monchi says it is a non-starter, even if Isco's name came up in discussions he had with club president Jose Castro.
Speaking to Estadio Deportivo, Monchi said: "The conversation lasted approximately 15 or 20 seconds. It is news that had come out, he asked me and I said no, that was all the interest in Isco."
Monchi added: "I talk to the president or vice-president on a day-to-day basis. There are things that jump out and the president asks me if that is true and I say 'Yes, yes, I have not told you', but it is not the case with Isco.
"It is a rumour, a logical rumour, because he wants to leave, and here is a coach who has had him and for whom he played at a high level, but there was absolutely nothing, not a movement."
Isco was born and raised in Andalusia, and after a spell away in Valencia's system he joined Malaga, which is where he caught the eye of Madrid.
This is his eighth season at Madrid, and Isco has now entered the last 18 months of his contract.
It remains to be seen whether there is a future with Los Blancos for a player who scored 10 goals and had eight assists in the 2016-17 LaLiga campaign, and who in his debut campaign at Madrid created a remarkable 71 chances despite starting only 23 games.
Certainly, Sevilla appear to have made their position clear. They appear content with their attacking options, with Papu Gomez having newly joined from Atalanta and with players out on loan capable of returning and staking a claim.
Monchi said: "Fortunately in that position we have very interesting players. It is one of the positions on the field in which we can be calmer.
"In the profiles that Isco can play, we have players here and elsewhere that will give us a solid performance."