Real Madrid sporting director Miguel Pardeza says the club will not attempt to sign Cesc Fabregas this summer.
The Arsenal captain, 22, has repeatedly committed his immediate future to the Gunners, but Real are understood to be long-term admirers and Barcelona have hinted that they make a move this summer.
However, although Real are still eager to sign a central midfielder, Pardeza has revealed the Spain star is not under consideration at this time.
"He is a great player, there's no doubt about that, but at this moment he is not a target for Real Madrid," he said.
"The club is working on other alternatives."
Top targetXabi Alonso is believed to be Real's top target for the position and, although Pardeza has reiterated that the club are unhappy with Liverpool's asking price, he stressed that a deal could still go through.
"Madrid must not discard an option until it's totally gone," he said.
"There is an insurmountable financial barrier at the moment, but it's something that could change.
"We're looking at other options, although there aren't many."
Real director of institutional relations Emilio Butragueno has also suggested that the club are hopeful of securing Alonso.
"There are many weeks remaining," he said. "We must show patience. There is time."
Rafa Benitez reiterated this week that he expected to retain Alono and called on the player to show loyalty to the club.