The 27-year-old defensive midfielder's agent Luca Urbani had claimed last week that negotiations were underway with Bologna for Valeri's signature for next season.

Valeri, who is currently with Serie B promotion hopefuls Sassuolo, has plenty of previous experience under current Bologna boss Stefano Pioli and it was claimed a reunion was on the cards.

However, Setti told SerieBnews.com: "Carl Valeri? The usual rumors, there's nothing at all with Sassuolo. We have not heard from them."

Valeri has played all his club football in Italy, since leaving the AIS in 2001, joining Inter Milan before spells at SPAL and Grosseto but has never played in Serie A.

Urbani had told TV show Extra Time: "At the moment there is a negotiation, it is a player known, appreciated and admired by Pioli and it is mutual.

"They worked together at Grosseto and Sassuolo and between the two there is a great human and professional relationship.

"There was some talk some time ago, when the player had not yet renewed his contract."

He also told told Calciomercato.com: "Valeri would be very glad and happy to work again with Mr. Pioli - but we must also see clearly the intentions of the Bologna.

"He, among other things, is out of contract and the sooner we can make a decision on his future the better."