Reports on Tuesday claimed the club had made a move for the Chelsea boss, only to be told they'd have to pay £71 million to buy him out of his contract.
Monaco have rejected claims they made a failed attempt to appoint Chelsea manager Jose Mourinho as their new coach.
Minority shareholder Alessandro Proto appeared to confirm in a statement on Tuesday that the club had made a bid to bring the Portuguese to the principality, only to be thwarted by a £71 million price tag.
The Blues boss has come under pressure following a dismal start to their Premier League title defence, with Proto revealing the "exaggerated figure" meant Mourinho was no longer a viable option.
Proto's statement attracted plenty of attention in England and France but Monaco urged caution in dealing with the comments.
"AS Monaco would invite the media to not repeat extravagant and unsubstantiated rumours from a supposedly minority shareholder," read a post via the club's Twitter account.
Chelsea's poor start to the season has led to reports suggesting Mourinho's time at Stamford Bridge could be set to draw to a close in the coming weeks.
However, Mourinho and captain John Terry remained defiant in a news conference on Tuesday, Terry stating: "The players are 100 per cent behind the manager. We are together."
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