Bulut confirmed that Turan will be joining a new club by Friday following the activation of his €41m release clause.
“The club will meet his release clause but if I say the name of the country he will be joining you will know where he is joining,” he told NTV Spor.
“If I say France you will say Paris if i say Spain you will say Barcelona or Real Madrid if I say England there are about five teams that could match this fee.”
Turan is set to complete a move to the La Liga champions Barcelona according to a report in Mundo Deportivo.
However, the report claims that Barcelona have struck a €35 million agreement with Atletico Madrid for the Turkish international which conflicts with Bulut underlining that Turan’s €41 million release clause will be matched.
Turan would also have to wait six months before he can actually play his first game for the Champions League winners due to their transfer suspension.
Bulut also underlined that he has not held talks with the Spanish giants.
“I have not spoke with anyone from Barcelona these newspaper stories are just rumours,” Bulut told NTV Spor.
“I am not going to say where Arda is going right now it is not the right time I would love to say but in three to four days the club will let you know anyway.”
“He intends to leave Spain this summer. It is his will to go out to play in the Premiership, that is where he would like to continue his career at this time,” he added.