Vadim Vasilyev told Sky Sports in October last year that Monaco would wait until at least the end of the 2017-18 season before allowing Lemar to leave.
Monaco’s stance did not change despite Liverpool’s sale of Philippe Coutinho to Barcelona prompting reports Lemar could make a switch to Anfield earlier than expected.
Arsene Wenger also denied Arsenal would make another attempt to sign Lemar – who turned down a £92m move to Arsenal last summer – before Wednesday’s deadline.
“He will stay at Monaco until the end of the season 100 per cent,” Vasilyev told RMC, a French radio station, on Tuesday.
“If Liverpool or Arsenal come with a big offer before the end of the market? This is not relevant.
“We will say ‘no’ because the objectives are clear. Without important players like Lemar, we will not succeed.”
Arsenal remain focused on signing Pierre-Emerick Aubameyang, having reached a £60m agreement in principle with Borussia Dortmund, according to Sky Sports.
Jurgen Klopp, meanwhile, has said Liverpool will not sign a replacement for Coutinho before the window shuts.
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