Madrid's president Jorge Valdano had said that Ronaldo's agent had asked him whether the Spanish club would be interested in signing the Brazilian superstar.

But Moratti insists Ronaldo is staying with Inter where he has a contract which runs until 2006.

"Ronaldo is an Inter player and Ronaldo is not on the market," Moratti told the Italian newspaper La Gazzetta Sportiva.

"I want to believe that all that's happening is nothing more than a passing summer storm."

He added: "I have never thought, and continue not to think of Inter without Ronaldo."

Valdano says that Real will not approach Ronaldo without Inter's consent and Moratti is unlikely to grant such a request.

He added: "Ronaldo has a regular contract with Inter and contracts, until shown otherwise, are respected.

"Soccer contracts are the same as those in any other trade. And if they're not respected, there are penalties to pay.

"I will remind Ronaldo of this when we speak."