Swansea City chief Huw Jenkins insists that the club have not agreed a deal to sell Michu, and they are planning talks with him this week.
Reports in Italy claim that Michu has undergone a medical with Napoli, ahead of a move to the Serie A outfit.
However, despite last week’s signing of French striker Bafetimbi Gomis, Jenkins insists that Michu’s situation is still very much up-in-the-air.
"If the reports are right, there seems to be a lot of interest in Michu," Jenkins told the South Wales Evening Post when asked about the situation over the former Rayo Vallecano star.
"From the club’s point of view, I can tell you that we have not received any enquiries about Michu.
"The only thing I would say is that I am sure Garry (Monk) will meet with Michu and discuss things with him when he reports back."
The 28-year-old has two years left on his current deal at the Liberty Stadium, but the Spain international endured an injury-plagued campaign last season which limited him to just 15 starts and only two goals.
The season before saw Michu arrive in spectacular fashion in the Premier League, with 18 goals in his debut campaign.