The Frenchman's name has been touted as a possible successor to Wanderley Luxemburgo after Real Madrid president Florentino Perez revealed the names of managers he could see taking over at the Bernabeu.
"Jose Mourinho and Fabio Capello are two of the world's best," said Perez. "I have another name for you, Wenger. I like him very much."
However, Wenger was quick to dismiss the link: "That's nice of him but until 2008 I have glue on my seat."