“It seems some people are galloping faster than the events.
It is wrong that an agreement with Manchester City has been reached,” Allofs told a news conference.
“We are in talks but as it stands now he will be training with us as normal. The situation at the moment is that he is a player of Wolfsburg and that says it all.”
Allofs said they were trying to meet the wishes of the player but were also looking after the club’s interests in a deal that he said “could only have winners.”
City have made repeated offers for the German league’s player of the year and the 24-year-old is seen as all but certain to move to the Premier League this season for what is reported to be a record fee of 74 million euros ($84.03 million) for a Bundesliga player.
“We are not pressing for this deal at all costs,” Allofs said. “We are dealing with it in a serious manner. We are trying to meet the wishes of the player. In such a case which can only have winners Wolfsburg’s interests must be taken into a account,” he said.
“Our readiness for these talks is there. Should we agree, fine. But if our ideas are not met then he will be our player for this season.”
De Bruyne, who joined in 2014 from Chelsea after loan spells with Genk and Werder Bremen, has a contract at Wolfsburg until 2019.
His agent Patrick De Koster was quoted by several media outlets as saying the deal had not been completed but could be soon.
“We are relaxed about the situation and we will see what happens in the next day or two,” De Koster said. “Kevin is not desperate to leave Wolfsburg but hopefully there will be a conclusion soon.”
The Belgian international was in stellar form last season, scoring 10 goals and providing 21 assists as the Wolves finished Bundesliga runners-up last season. Wolfsburg also clinched the German Cup.
Wolfsburg coach Dieter Hecking, who said he was frustrated with the ongoing media speculation regarding this possible transfer, said De Bruyne was training well with the team.
“For five weeks I have had to deal with this and that does not make me happy,” Hecking said.
Asked whether the player would be in the 18-member squad for Friday’s game against Schalke, he said: “I expect that as things stand now. He is training well.”
(Reporting by Karolos Grohmann; Editing by John O’Brien/Alan Baldwin)