Real Madrid have denied reports that they are interested in a swap deal involving England striker Michael Owen and Arsenal forward Jose Antonio Reyes.

“Real Madrid are not considering any exchange deal involving Michael Owen and Arsenal’s Jose Antonio Reyes,” the Primera Liga side said on its website on Friday.

“Real Madrid are delighted and satisfied with the English player’s work. No representative and, of course, no one from Arsenal has made contact with Real Madrid to suggest any such deal.

“The relationship between Real Madrid and the English club has always been characterised by transparency and confidence.”

Reports of a deal between the two clubs have emerged in recent weeks, especially soince Reyes was duped by an impersonator from the Cope radio station into admitting he was keen on a move to Real.

Arsenal paid £17m to Sevilla for Reyes in January 2004 while Owen joined Real from Liverpool in an £8m deal in the summer.