Bologna president Albano Guaraldi insists Gaston Ramirez, who has been linked with a move to Liverpool, has not yet agreed to join Southampton.
And Guaraldi has also blasted the 21-year-old over his recent behaviour.
Liverpool had been seen as favourites to sign Ramirez for some time, but on Friday morning it emerged that a shock £12million move to newly-promoted Southampton could be on the cards (see Related Articles).
However, Guaraldi has suggested that a move to St Mary's may not go through, and has criticised the Uruguay international.
"Ramirez is contracted to Bologna and the club will decide upon his future, not the player himself," Guaraldi was quoted as saying by ESPN.
"Ramirez's behaviour is totally unacceptable, giving open interviews like that without consulting us.
"Gaston cannot force my hand with two interviews. I am a serious person and I've already said it will take €20m to sell him. And I also told his agent."
Southampton manager Nigel Adkins had earlier on Friday refused to comment on the deal, but told reporters: "It looks exciting, doesn't it? I think he has come out in Italy and said it is already sorted, but I think you'll find the policy of the football club is until the player has signed on the dotted line and we announce it then really we try to do everything privately.
"We have been consistent with that over the years and we'll probably stay that way."
Chelsea, Manchester City, Manchester United, and Tottenham have also been linked with the player over the summer.