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The rejecter of the proposal, Schalke striker Raul, insists he has no intention of leaving the German club.
"I will definitely stay in Gelsenkirchen. My wife and children have adapted to life here, and I am proud that I can play in the German championship," said Raul.
The 18-year-old former "Real Madrid" player's contract is valid until next summer.
Last season, Raul scored fourteen goals in 36 matches.