James, 28, is linked with Napoli and Atletico Madrid after returning to the Santiago Bernabeu from a two-year loan spell at Bayern Munich.
Atletico chief executive Miguel Angel Gil Marin told ESPN that James did not want to continue at Madrid, nor does the LaLiga giant want him to.
Asked about those comments, Zidane said the Colombia international's future was not something for him to worry about.
"It is a matter for the club," he told a news conference ahead of Madrid's International Champions Cup clash against Atletico. "It is something between them – the presidents – not me."
Zidane was seemingly tired of answering questions about Gareth Bale, who is expected to leave the club, and reported transfer target and Manchester United star Paul Pogba.
While midfielder Marco Asensio could be set to miss the entire season due to a serious knee injury, Zidane said nothing changed in regards to Madrid's plans.
"We are working with the players here. We think about the first league match," he said. "Nothing changes. I don't think about that, who will replace Marco, no. We are touched by the injury, but there is a game tomorrow. We will see later."