Hamburg coach Martin Jol believes Rafael van der Vaart will remain at the AOL Arena for the coming season.
The 25-year-old Netherlands international has been linked with a string of top clubs across Europe following his performances at Euro 2008.
But Jol believes the Dutch winger will remain with Hamburg as the player is happy in the Bundesliga.
The newly-installed coach believes van der Vaart would only consider leaving Hamburg should reported interest from Real Madrid prove to his substance.
"Assistant manager Zeljko Petrovic has spoken to him on the phone and he said once again that he would like to stay at Hamburg," revealed Jol.
"He loves Hamburg.
"It could be that he would think about moving if a club like Real Madrid or Barcelona makes an offer. That is what we have learned from past experience."