Granada chief Juan Carlos Cordero admits Guilherme Siqueira was on his way to Real Madrid in August.
Siqueira is currently on-loan at Benfica.
"For half an hour there was a contract signed with Real Madrid that was not posted because it depended on the transfer of Fabio Coentrao at Manchester United," recalled Cordero to AS.
"Both Siqueira and Granada can say that the operation was near done. It was a loan with the option to buy. It was over a million euros. Maybe in the future it can be done.
"Siqueira is a great player and today remains the property of Granada."
