Bayern Munich CEO Karl-Heinz Rummenigge has rubbished speculation that Thiago could join Chelsea or Manchester United this summer.
It has been claimed that Thiago could be set for a move to one of the two Premier League heavyweights, ending his time in the Bundesliga.
Injuries contributed towards just 19 Bundesliga appearances for Thiago last season and Bayern Munich now have a new coach at the helm in the shape of Niko Kovac.
But the Bavarians are not looking to offload Thiago, Rummenigge insists, with the Spaniard remaining a key man.
He was quoted as saying by German magazine Sport Bild: "He is an important player for us.
"We have never even thought about him leaving the club.
"There is nothing at all in this story", the Bayern Munich supremo added.
Thiago, who has been linked with a move to the Premier League regularly in the past, joined Bayern Munich in 2013.
The Spaniard has made over 150 appearances during his time at Bayern Munich and has another three years left on his contract with the German giants.
