James Rodriguez joined Everton on a free transfer from Real Madrid claim the Colombian's former club, Atletico Banfield.
The 29-year-old signed for the Blues earlier this month, reuniting with his former Madrid and Bayern Munich manager Carlo Ancelotti, with reports at the time claiming the playmaker had joined in a deal worth roughly £20m.
However, Argentine Primera Division side Banfield, who Rodriguez spent 18 months with before joining Porto in 2010, claim that is not the case.
The club claim they are entitled to a cut of the money from the player's subsequent transfers, with Rodriguez also enjoying a stint with Monaco prior to his move to Spain.
But in a statement released on their website they confirmed they would not receive any sum as part of the deal, stating he had joined Everton on a free transfer.
"After hearing the news of the transfer of James Rodriguez from Real Madrid to Everton, and with attention to the current FIFA regulations, the Club Atletico Banfield made the pertinent inquiries to find out if it was their responsibility to collect money through a solidarity mechanism," read a statement from club treasurer Ignacio Uzquiza.
"Despite various reports from news outlets that indicated that the transfer had been for a significant cost - a situation in which Banfield was going to have benefited from with a percentage of that sum for having contributed to the training of the player - we have discovered that this was not the case.
"Unfortunately, because of the nature of James Rodriguez's transfer from Real Madrid to Everton to Banfield, no money is due. The transaction was made at no cost, as if he were a free player.
"The pertinent consultations have already been made to the two clubs involved and to the corresponding organisations. In all cases, they confirmed to us that the club will not receive money as a solidarity mechanism."
Rodriguez joined Everton on a two-year deal with the option of a third and impressed on his Blues debut in their Premier League opening day victory over Tottenham Hotspur last weekend.
