Real Madrid coach Carlo Ancelotti has dismissed reports linking star player Vinícius Júnior with a move to Saudi Arabia as "just speculation."

Ancelotti spoke in Warsaw ahead of Madrid's first game of the season on Wednesday, the UEFA Super Cup against Atalanta, where he said new signing Kylian Mbappé could make his debut.

ESPN reported on Monday that Vinícius, 24, was considering a proposal from the Saudi Pro League, although the Brazil international is happy in Spain and Real Madrid do not want the player to leave.

"There isn't anything at all," Ancelotti said in a prematch news conference on Tuesday. "There's just speculation, at this time in the [transfer] market, which closes on Aug. 31. There's just speculation, nothing else."

Vinícius was a key player in Madrid's Champions League and LaLiga-winning season in 2023-24, scoring 24 goals in all competitions.

"Of course speculation doesn't affect [Vinícius]," Ancelotti said. "He's here, he wants to be here. He wants to do his best and help Real Madrid."

The Italian manager denied that Madrid's sporting project was under threat from Saudi Arabia's investment in football, which has seen high-profile signings such as Cristiano Ronaldo, Karim Benzema and Neymar arrive in the country in the past two years.

"No, absolutely not," Ancelotti said. "We have our project and we continue in that. We have a squad of great quality. ... We've lost important players and we've brought in others who have to adapt. We have to work to maintain the atmosphere, and the commitment, which was the key last year."

Madrid's squad has been strengthened this summer by the arrival of Mbappé, who signed last month on a free transfer from Paris Saint-Germain but only arrived to training recently due to his participation with France in the European Championship this summer.

Mbappé only joined up with his new Madrid teammates for preseason training last week, but Ancelotti said he was in contention to start against Atalanta.

"Kylian has arrived well, like all the other [players], who haven't had much time [to train]," Ancelotti said. "He's arrived in good form, he's adapting well. Obviously everyone who's here [in Warsaw] could play tomorrow.

"There's an atmosphere here that's very healthy. That's down to the players who've been here, like Dani [Carvajal], like Nacho [Fernandez], [Luka] Modric.

"There are no princes or kings; there are just players with different qualities, players who've used their qualities for the good of the team.

"I've trained with [Mbappé] a couple of times now," midfielder Federico Valverde said. "We know the class he has, he's one of the best in the world. He looks motivated and for sure he'll leave his mark at this club."