Antonio Conte has not had any contact from Real Madrid, according to the former Juventus and Italy boss' brother.
Conte is out of work after leaving Chelsea earlier this year and has been linked to the Santiago Bernabeu post, with current head coach Julen Lopetegui under increasing scrutiny ahead of Sunday's Clasico showdown against Barcelona.
Daniele Conte, who also acts as his sibling's representative, told Cadena SER that Madrid are a "great club" but insisted the lines of communication are not open at this stage.
"Antonio is on vacation, he has not received any call from Real Madrid," he said.
"Real Madrid are a great team, although there has been no contact."
Conte won three consecutive Serie A titles with Juventus before leading Italy to the quarter-finals of Euro 2016.
His maiden season at Chelsea brought a dominant Premier League triumph in 2016-17 and he signed off with an FA Cup final win over Manchester United, although the Blues finished outside the Champions League qualification places last term amid deteriorating relations between Conte and the Stamford Bridge hierarchy.
European champions Madrid are languishing in seventh in LaLiga, four points behind leaders Barca.
A 2-1 Champions League victory over Viktoria Plzen on Tuesday ended a five-game winless streak that included four defeats.