Bayern Munich sporting director Matthias Sammer denies that a deal has already been agreed to sign Thiago from Barcelona.
The midfielder, also a target for Manchester United, is the subject of declared interest from new coach Pep Guardiola, and despite reports to the contrary, die Roten have yet to secure their man.
"Why would we not communicate it if something was signed?" Sammer told Bild am Sonntag. "No, of course that is not the case."
Sammer also enthused about how "proud" the club is to have Guardiola taking charge.
"We are proud that the most famous coach in the world is here," Sammer said. "The bottom line is that we all want the same thing - success. For me, it is remarkable to see how Pep works, how he discusses, how he presents himself. This obsession, this craziness about football - you can't top that."
Finally, the former Germany international told his players that they must not get frustrated with the club's rotation policy as it looks to build upon a treble-winning campaign last season.
"The secret of Bayern last season is that egos did not play any role but we have all been working relentlessly for the cause and success," Sammer remarked. "That's how it should stay.
"If you look at the schedule, especially with the World Cup next summer, it should be obvious that you need a big squad. Sure, you always want to play as a player. These decisions are made by Pep."