Carlo Ancelotti says Holger Badstuber will only be allowed to leave Bayern Munich on loan.
Badstuber has been struggling to secure regular first-team football under Ancelotti - partially due to injury - and has been heavily linked with a move away from the Allianz Arena in recent weeks.
Manchester City and Hamburg have been credited with an interest in signing the 27-year-old and Ancelotti would not veto an exit this month, but only if it is on a temporary basis.
"If Holger wants to leave, we would be open to that," Ancelotti said at a news conference.