The 24-year-old Portugal international has been heavily linked with a move to the French capital as he is poised to enter the final 12 months of his contract.
Reports have suggested Sanches is closing in on a move to Paris, who are expected to appoint former Lille boss Christophe Galtier as Mauricio Pochettino's successor, with it suggested the midfielder had arrived in the city on Thursday to finalise a transfer.
However, those claims have been rebuffed by Letang as he offered an olive branch to other interested clubs – confirming one offer from an unnamed side.
Milan appeared favourites for Sanches' signature for a long time. It was interested in his Lille team-mate Sven Botman, too, but saw the defender instead head for Newcastle United.
"There are players who can leave and there are players who can't leave. Without naming them today, we want to keep a competitive team," Letang told a press conference after Lille appointed Paulo Fonseca as their new coach.
"Renato is one of the boys who still has a year left on his contract. Renato could or should have gone to Barcelona last summer, before he injured his meniscus.
"As of today, we've had no contact with PSG. We have seen lots of rumours about offers, but we've received no offer from PSG.
"Other clubs are interested, especially one great European club, who have already made us offers. That’s the situation with Renato."