The statement explicitly rules out "any direct or indirect contact" with Olise, his agents, or anyone in his circle, and stresses the "excellent institutional relationship" Real Madrid maintains with Bayern, describing it as built on a long history of mutual respect, collaboration and admiration.
The club's statement, published in full, read as follows:
"In view of information that has appeared in various media outlets regarding alleged interest from our club in Bayern Munich player Michael Olise, Real Madrid C.F. wishes to state that it has had no direct or indirect contact with the aforementioned player, his representatives or persons in his circle.
"Real Madrid also wishes to highlight the excellent institutional relationship it maintains with Bayern Munich, with whom it shares a long history of mutual respect, collaboration and admiration, and regrets the spread of speculation that does not correspond to reality.
"Both clubs have always maintained a relationship based on mutual trust and respect, which is reflected, among other things, in the shared conviction that any potential interest in a player belonging to the other club should first be addressed between the clubs themselves, in accordance with the principles of institutional loyalty that have historically governed relations between Bayern Munich and Real Madrid."
The denial follows a week in which Olise's name dominated transfer speculation surrounding Real Madrid, with numerous outlets naming the France international as one of the club's primary targets for next summer, with reported figures ranging between €150m and €220m.
Bayern have remained firm throughout. Club officials have repeatedly stated, both publicly and privately, that Olise is not for sale and that they have no intention of negotiating his departure. Olise, who is under contract until 2029, was recently named Bundesliga Player of the Season after recording 22 goals and 31 assists in 52 appearances. Bayern are also working to secure a contract extension with the winger.
Bayern president Herbert Hainer has been blunt on the matter in recent weeks.
"If Florentino Perez wants to send us an offer for Olise, something that hasn't happened so far, he can save himself the trouble," Hainer told Bild. "He's an FC Bayern player and has a long-term contract. And we are not a selling club."
Olise, 24, remains involved with France at the World Cup, a tournament that has only driven his market valuation higher.