The Chilean coach has been linked with a move to replace Juande Ramos as Real Madrid coach this summer.
Villarreal chairman Fernando Roig told Cadena SER: “His buy-out clause is €4 million.”
“One must respect these clauses. Contracts are there for a reason.”
“He has told me that nobody has contacted him,” stated the chairman.
“He said that nobody believes him, but I do. He assured me that he is happy here.
“Of course, it would excite anyone to go to Real Madrid.”