Speaking to Corriere dello Sport (h/t Goal's Joe Wright), the Argentinian said a move won't happen anytime soon because he's focused on winning silverware with his current team, and he's relaxed about signing a new contract:
"I don't think this is the right time [to move], given the results. And I'm fine where I am.
"I've always made my goals clear: first, to return to the Champions League with Inter, and we've done that. Second, to win something with Inter. The [sporting] director [Piero Ausilio] has made a good team despite not being able to spend a lot.
"When the time comes, we'll renew. There's time."
He made similar comments in October ahead of the Champions League clash with Barcelona, per James Whaling of the Daily Mirror.
The 25-year-old has long been one of the most consistent forwards in Europe, leading to speculation about a transfer over the years. Icardi has been at Inter since 2013 but has yet to win major silverware with the side, and a move to a bigger club seems inevitable at some point.
He has already done plenty of damage for the Nerazzurri:
Icardi bagged 29 goals in Serie A last season and 24 the year before, and that kind of production would be a welcome addition for most clubs. Real, in particular, could use his services given the struggles of their strikers.
Karim Benzema has scored just five goals in La Liga so far this season and couldn't find the net in the league in over two months until the trip to Celta Vigo. Mariano Diaz has barely made an impact since returning from Lyon, and Vinicius Junior is still adapting to the European game.
Icardi would be the perfect solution to Real's attacking woes, but he seems content to stay with Inter for now.
He went out of his way to keep his team-mates―and even some former team-mates―happy in November, buying them luxury watches for helping him win the top scorer's title:
His contract situation will likely be key. While there has been talk of a renewal and Icardi has given no indication there are issues keeping him from signing, an agreement still hasn't been reached.
According to Transfermarkt, his current deal won't run out until 2021, so there's ample time to find an agreement. Things might get complicated if Real get involved, however, especially given their need for goals. Los Blancos would undoubtedly be willing to spend a fortune to bring Icardi to the Spanish capital.