Gareth Bale's agent described suggestions he is to leave Real Madrid on loan as "ridiculous" and assured he will see out the remainder of his contract at the Santiago Bernabeu.
Having made just nine LaLiga starts for Madrid this season, Bale has been the subject of speculation linking him with a move back to the Premier League with Tottenham or Manchester United.
Barnett did not rule out the possibility of the Wales international leaving Madrid but emphatically dismissed the suggestion of a loan exit.
"At the moment he is going to be playing football this evening for Real Madrid and he has got two and a half years left on his contract," Barnett told Sky Sports ahead of Zinedine Zidane's side taking on Unionistas de Salamanca in the Copa del Rey on Wednesday.
"He is fine, he will be there and everything will be fine.
"He is one of the best players on earth. Why would one of the best players on earth go on loan? That's ridiculous.
"That's what I have always said. I have never deviated. Things can change but loans are ridiculous and there are not many clubs that can afford him anyway."
Bale was on the verge of a move to Chinese Super League side Jiangsu Suning before the start of this season, but a reportedly difficult relationship with Madrid coach Zinedine Zidane seems to have settled down.
Since he joined Madrid from Tottenham for €100million in 2013, Bale has won one LaLiga title and one Copa del Rey to go with his four Champions League winners' medals.
Barnett backed him to add to his collection of silverware before his time at the club comes to an end.
"He is happy and hopefully he will win a couple of more things with Real Madrid," he said.