Atalanta president Antonio Percassi says he will not allow Andrea Conti's agent to dictate where the full-back will be playing his football next season.
Mario Giuffredi - the 23-year-old's agent - had previously suggested a deal with the Rossoneri had already been agreed and his client would move to San Siro "one way or another".
However, Percassi insisted he will decide whether to sell the defender and who to sell to, as Europe's top clubs begin to pick up the stars who led Atalanta to an impressive fourth-placed finish last term.
"We'll decide the conditions and we'll evaluate whether the sale to Milan will satisfy them," Percassi said in an interview with Bergamo TV. "It's a very complicated situation.
"I repeat: we'll wait and see. The situation is evolving, but Atalanta will dictate the conditions."
Defensive midfielder Franck Kessie has already left Atalanta for Milan during the close-season, the 20-year-old moving on a two-year loan deal with an obligation to buy.
But Percassi claimed there may be no more departures as Atalanta look to repeat their impressive campaign.
"I'm not worried that others could do the same thing. There's a line, and when it gets to it we'll intervene.
"Other than Conti - who we consider unsellable, but we all know the situation - we're not going to let any of the other big players leave.
"Mattia Caldara and Leonardo Spinazzola will stay with us, the same goes for [Remo] Freuler and also for [Alejandro] Gomez.
"We're discussing a contract extension with him [Gomez], he's a crucial player for us and it's therefore right to recognise that.
"Then there's [Andrea] Petagna who has asked to stay here. He's completely ours, but Milan have a sell-on clause which increases year-on-year.
"All told we'll start with only [Roberto] Gagliardini and Kessie having left, while Atalanta have made eight signings since January. We move forward with great anticipation."