Known for his policy of signing so-called 'galactico' players for world record fees, Perez said on Monday Real could make a bid for Falcao at the end of this season and that he had been told the prolific striker wanted to play for the nine-times European champions.
Falcao, 27, left Real's city rivals Atletico to join Monaco at the end of last season for a fee media reported was around 60 million euros (£50 million).
"All I can do is thank Florentino for his words but I have to respect my current club Monaco, who have made me feel very good and I am very happy," Falcao said at a promotional event in Bogota on Wednesday.
"It doesn't seem right to talk about Real Madrid's possible interest at the moment out of respect for the institution to which I am contracted to as of today," he added.
- Sports & Recreation