Liverpool chief executive Rick Parry concedes an offer for England midfielder Steven Gerrard could be made in the summer.
However, the Anfield supremo insists a bid - even of £50million - would be turned down.
In a frank interview with BBC Radio 5 Live, Parry claims Real Madrid asked for an option to sign Gerrard when Liverpool clinched the deal for striker Fernando Morientes in the January transfer window.
He also denied Chelsea made an offer last summer - although the Premiership leaders are expected to test the Reds' resolve with a £30million bid for the 24-year-old in the summer.
"Maybe there will be an offer in the summer. Maybe there won't. Our position is we want Steven to stay but we are realistic enough and have enough respect for Steven - and he has enough respect for us - to know that it is his decision that will be crucial," said Parry.
"You are not going to keep a player like Steven against his will.
"That just doesn't work but any idea we are going to accept offers for Steven and then tell him 'by the way, we have decided to sell you' is not on the agenda. You can forget that."
Parry added: "Steve is above money. He is the future of Liverpool.
"It doesn't matter if it's £30million, £40million or £50million, we will not accept offers.
"But we are also realistic enough to know we can't keep Steven against his will."
Speaking of Chelsea's interest in the inspirational midfielder, Parry said: "There have been a lot of open secrets about Steven, most of which have been complete myths.
"It is suggested we had a deal tied up last summer. We never had an offer last summer.
"We had told Chelsea that as far as we were concerned he was not for sale and we didn't want to sell him.
"In reality it didn't go beyond that."
Parry is aware he can only do so much to hold on to his prize asset who made his debut for the Reds in November 1998 before becoming a regular in the following season and scoring his first goal for the club against Sheffield Wednesday.
His talent has earned him a number of suitors in club football and Parry admits he does not know what the future holds for Gerrard.
It is well known that Gerrard wants to be in a title-winning team and has Champions League aspirations, although his loyalty to the club he joined as a trainee has so far seen him remain with the Reds.
When asked if the midfielder will be at Anfield on the first day of next season, Parry admitted: "I sincerely hope he will be. Steven knows my views. He knows Rafa's views.
"We have reaffirmed recently to Steven that we are trying to build a team around him.
"We crave success as much as he does. We know he is ambitious and nobody can argue with that.
"We all want to see progress by next season. He is not alone in that.
"There are a lot of other players who feel the same, so we all have a common aim."
