Borussia Dortmund winger Brandt is supposedly being tracked by Arsenal with a view to a January move.
The Gunners are said to be targeting a deal which could involve a fee in the region of £22.5million.
Brandt joined Dortmund in 2019, initially penning a five-year deal, but could be in line to depart as early as this month.
However, club director Michael Zorc has claimed that they are yet to be contacted regarding the possibility of a move.
“There is nothing on the table at the moment,” he told respected journalist Fabrizio Romano. “We can’t do anything about rumours that are constantly being spread that simply don’t reflect the truth. There’s currently no interest.”