Diario AS reported on Tuesday that the German worldwide striker - who has seven goals in six appearances this season - was being tracked by Madrid officials.
However, Leipzig director Oliver Mintzlaff insists there is no such clause for Werner, and has told clubs they are not planning to let their star player go.
In his last four games, two for the national side and two for RB Leipzig, the striker has scored 6 goals.
"I have come very far with Leipzig", the former Stuttgart forward explained.
"We play in the Champions League", Mintzlaff is quoted by Kicker as telling Sky.
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"In Spain there are a maximum of three clubs with Barça, Real and Atlético Madrid".
"FC Bayern is also a big club, but for me it is not a topic that I am concerned with".
Werner's fine form has seen him linked with both Liverpool and Real Madrid in the last few days, but the Reds will surely have to pay up if they are to have any hope of bringing the youngster to Anfield.
"He has a contract until 2020 and he is in his element here", Mintzlaff said in an interview with television programme Sky90 ahead of Leipzig's debut Champions League match against Monaco.
Particularly on the subject of Liverpool, who recently sealed a deal to sign Naby Keita next summer, Werner spoke glowingly of the club, albeit in the context of his team-mate's move.