The 20-year-old 6ft 4in centre-back has made 34 league appearances for the Bundesliga outfit - netting six times - since arriving from Mainz.
And having also made his international breakthrough, interest in the youngster has inevitably intensified, with Chelsea, Manchester City and Arsenal reportedly monitoring the Serbian starlet's progress.
The latter are thought to have been preparing a €12 million offer for the stopper, after the player's representitive Steve Kelly revealed that the club had rejected a bid from Everton for the defender.
However, Kelly has now moved to quash talk of Subotic sealing a switch to the Emirates Stadium, insisting there has been no contact from the Gunners.
"There is nothing in the reports linking Neven with Arsenal," he told skysports.com.
"I don't know where this has all come from.
"He only recently signed a new five-year deal at Dortmund and it would take big money for any move to happen.
"I have had no contact with Arsenal and I have spoken to Dortmund and they have told me that they have had no contact with Arsenal whatsoever."
NEWS: Everton see Subotic swoop snubbed
NEWS: Arsenal prepare Subotic swoop
NEWS: Subotic targeted by English quartet
