Hamburg sports director Dietmar Beiersdorfer said: "The offer was absolutely out of the question."
Van der Vaart is under contract at Hamburg until 2010 but there is a clause which allows him to leave for a fixed price of 1.5million euros in the year before his deal expires.
However the player has recently stated that he is happy to remain at the Bundelsiga outfit for at least one more season.
Real Madrid are still favourites for the La Liga title despite Barcelona's activity in the transfer market with Arsenal's Alexander Hleb and Daniel Alves from Sevilla moving to the Nou Camp, and punters can still take advantage of a £25 free bet on the capital club.
Real have also failed to lure Cristiano Ronaldo to the Bernabeu and the race for the Spanish title is expected to go right down to the wire this season.



