“Ozan Tufan has not signed anything with Atletico Madrid,” Bulut was quoted as saying by Mundo Deportivo.
Atletico Madrid were reported to have reached an agreement for a €7 million deal with Tufan according to the Vakit newspaper.
The Rojiblancos have been closely linked with Tufan over the past season and Atleti have been keeping close tabs on the young midfielder.
Tufan has established himself as a regular call up for the Turkish national team since his debut against Denmark in September 2014.
The 20-year-old midfielder started in the international friendly against Bulgaria at the Recey Tayyıp Erdoğan stadium today.
Bursaspor are reported to want at least €10 million for their rising star and rejected all offers for Tufan in January.
Tufan scored three goals and provided nine assists in 41 appearances for Bursaspor this season.