The Uruguayan front man has been linked with a move away from El Madrigal with Arsenal, Liverpool and Valencia all preparing to table bids.
Last week, Villarreal reportedly turned away an offer from Atletico Madrid of €17million (£11.5million) plus 28-year-old striker Mista for the former Manchester United man.
Fernando Roig, president of Villarreal, reiterated the Yellow Submarines' stance that they are not willing to negotiate on their asking price of €23million (£15.5million) for Forlan, scorer of 19 league goals last season.
He also admitted a number of clubs in England and Spain were tracking the striker but stressed the Primera Liga club had not decided whether they would sell or keep the player.
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