Carlo Ancelotti insists he has no intention of letting Angel Di Maria leave Real Madrid during the January transfer window.
Di Maria continues to be linked with a move to Arsenal, while it has been reported that Monaco are keen on signing the Argentina international.
Ancelotti substituted the winger during Saturday's shock goalless draw with Olimpic Xativa in the Copa del Rey, but insists his decision to replace him with Karim Benzema was because of a minor injury concern.
"He told me he felt discomfort so I told the others to warm up and, after that, I introduced Benzema," the Los Blancos boss said after the disappointing draw.
"But he has not talked about his future. He is happy here and he will not leave Real Madrid."
Madrid struggled at the weekend without Cristiano Ronaldo and Gareth Bale, but Ancelotti was unconcerned with his side's inability to break the deadlock.
"This team makes a lot of chances and scores a lot, so we'll try to score in the next game.
"I'm satisfied. [Alvaro] Morata worked well for the team, had chances but could not score. Our opponents defended well, and it was clear we were not used to the [artificial] grass."