Bordeaux president Stephan Martin has insisted that there is no agreement in place to allow forward Malcom leave the club in the summer.
The 20-year-old was strongly linked with both Arsenal and Tottenham Hotspur during the January transfer window, but he agreed to stay and help the club in their fight against relegation.
Malcom recently told media outlets in Brazil that Bordeaux had guaranteed him a summer transfer, but Martin has denied the claim.
“We did not not promise anything,” said Martin, according to Tribal Football.
“We will review his case this summer, for sure. He made no secret of his desire to leave.
“We’ll talk about it again this summer.”
Malcom progressed through the youth system at Corinthians, before being promoted to the Brazilian club’s senior set-up in 2014.
He joined Bordeaux in 2016 and has gone on to score 19 goals in 85 appearances in all competitions in France. Malcom has represented Brazil at both U20 and U23 level.
Manchester United have also been linked to the forward, although manager Jose Mourinho has already said he will not spend big on an attacker in the summer.