Senior adviser Miguel Angel Gil says the club turned down a ¤45 million ($61 million) offer from crosstown rival Madrid for the Argentina striker as well as a ¤60 million ($82 million) proposal by the Premier League club that would have seen defender Diego Godin included in the deal.

Gil says Atletico turned down the offers because it "believes in the players and the project we are building here." Reports suggest Madrid could pay Aguero's ¤60 million buy-out clause at the end of the season.

Gil says coach Quique Sanchez Flores will see out the season despite the club's recent struggles.