Real Madrid president Florentino Perez claims he is more concerned with maintaining a 'friendship' with Manchester United than signing Cristiano Ronaldo.
The Primera Liga outfit are long-term admirers of the Portuguese winger and failed in various attempts to sign the 2008 World Player of the Year last summer.
It was expected that newly-elected Perez, who has pledged to bring star names to the Bernabeu in his second stint as president, would return for Ronaldo - and he has not ruled out a move.
However, Real appear to have set their sights on AC Milan's Kaka, and Perez insists he will not pursue transfer targets in a manner which could upset other clubs.
"If one day there is a chance of [Ronaldo] playing for Real Madrid, that would be an honour for us," he said in The Times.
"But if I had to choose between the friendship with Manchester United and the signing of Ronaldo, I would choose the friendship.
"Plus, I have never said that Cristiano will arrive in June. That is an arrogant and false statement."
He continued: "I shall be talking with [United manager Sir Alex] Ferguson and [chief executive] David Gill to build bridges.
"If we sign Kaka from Milan, I can assure you that we will still have a very good relationship with [vice president Adriano] Galliani."