The Brazilian joined West Ham from Serie A side Lazio in a club record deal last summer and has enjoyed a productive debut season with nine goals and four assists to his name in 37 matches in all competitions.
Sky Sports says West Ham co-owner David Sullivan will not entertain the possibility of offloading the playmaker ahead of next season.
Real Madrid were reportedly planning to move for the 25-year-old should they fail to land Eden Hazard from Chelsea.
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