Mainz claim they have not received any bids for Adam Szalai following reports of interest from Arsenal for the striker.
The 25-year-old has scored nine goals so far this season, having signed a contract until June 2015 with the Bundesliga side last summer.
Borussia Dortmund, Wolfsburg and Lazio have previously been linked with Szalai, but German and Hungarian media have reported that the Gunners have been monitoring his progress.
However Mainz, currently sixth in the Bundesliga, are reluctant to part company with the striker just yet.
"Arsenal haven't contacted us," claimed Mainz manager Christian Heidel. "We don't want to let our striker go in the winter transfer window. But that's another situation if someone willing to pay 20 million Euros for him."
Szalai himself is in the dark over any interest from Arsenal, recently telling Kicker: "I don't know anything about it. The season is long, I don't know what will happen at the end of it.
"My aim is to collect as many points as we can and get as far as we can in the German Cup. Summer we can talk about what happened."
The Scottish Premier League and the Scottish Football League have agreed in principle to a restructuring plan that would see the organisations merge in a 12-12-18 structure.
If the new format was rubber-stamped for next season, Irn-Bru Third Division leaders Rangers would remain in the bottom tier of Scottish football regardless of any title success this term, albeit with the potential time frame for a return to the top-flight remaining the same.
Green told RangersTV: "I haven't read anything other than what is in the press and if that is what we have sat here eagerly awaiting to transform Scottish football, my advice to the board of Rangers is the quicker we can leave Scottish football the better.
"I can't see anything that is going to transform the finances, the status or the excitement."