The 28-year-old Colombia international has been linked with a number of clubs in the English top flight.
However, no club has made an offer for the former Club Brugge star, according to Monchi, Sevilla’s transfer chief.
“There have been no formal offers for Bacca,” Monchi told Sevilla’s official website. “We will not negotiate.
“He has averaged 24.5 goals per season (21 goals in the first season and 28 in the second), and hopefully no club will pay his release clause.
“It is a risk, but we cannot do anything about it. He signed a new contract 10 months ago. I know that he is happy here, and his family is happy too. But I cannot predict the future.”
According to The Guardian, Bacca’s release clause is €30 million (£21.5m), and it seems that clubs interested in him will have to cough up that cash.
Bacca is a proven goalscorer and has been an important player for Sevilla for the past two seasons.
The former Atletico Junior striker scored 20 goals and created 28 chances in 37 La Liga appearances in the 2014-15 campaign, firing Sevilla to a fifth-placed finish.
The 28-year-old also played an important role in Sevilla’s Europa League triumph, scoring seven goals and creating 11 chances in 15 matches.
With Sevilla set to play in the Champions League next season, the striker is likely to move to a club which is also in the same competition.