The Serbian defender is hot property at present, with numerous clubs believed to be tracking his availability.
He only penned a new contract with Dortmund last summer but has attracted attention following an impressive 2009/10 campaign.
No official approach for his services has been made as yet, but it is expected to be only a matter of time.
Premier League giants United were believed to be among those keen to land the 21-year-old, but Subotic's manager insists that is not the case.
"We are still waiting for offers," Steven Kelly told Sport. "It is true many clubs are interested in Neven but for now he is only thinking about the World Cup.
"He is calm and ready to represent his country. Talk about transfers does not bother him.
"Manchester United? We have held no talks, that is just a rumour without any substance.
"I am good friends with (Sir Alex) Ferguson but that wouldn't mean anything if talks do start.
"Will they? Maybe. Steven is a Dortmund player but there is a possibility he could leave the club this summer."