Vice President Vadim Vasilyev has told Arsenal that midfielder Thomas Lemar is not for sale not this summer at least.
Arsenal have been on the case of the France international for a while but the Ligue 1 champions have rejected speculation he could leave before the end of the summer transfer window.
He also stressed that the club have kept all of the key players that wanted to keep.
A €35 million bid was made in june for Lemar but Monaco turned down the offer.
The Player was one of Monaca top stars last season scoring 14 times and creating 17 for the club.
Monaco have sold more than €165m of talent already this summer, including Bernardo Silva and Benjamin Mendy to Manchester City and Tiemoue Bakayoko to Chelsea while City are preparing a world-record bid for Kylian Mbappe.