Thorgan Hazard and Borussia Monchengladbach have said they are not aware that Chelsea have a buy-back option for the Belgium international.
Hazard, 23, joined Gladbach on loan from Chelsea in summer 2014, signing a permanent contract until 2020 in February the following year.
At that time, the Blues said on their official website that they have "the right to exercise a future buy-back option."
Hazard, the younger brother of Chelsea star Eden, then told Sport Bild he hoped the pair could reunite at Stamford Bridge in the future.
But speaking to Express, the attacking midfielder said he was "not aware of a buy-back option."
"I don't know anything about this story once published in a paper," he said.
Gladbach sporting director Max Eberl also claimed "there is no clause," but added: "When we get a Chelsea player then Chelsea has the option, in whichever way that may be, to consider this player -- but not [an] active [clause]."
Hazard has become a regular for the Bundesliga side, scoring 18 goals and setting up a further 20 in 90 matches across all competitions since his arrival.