Kyriakos Papadopoulos has attracted interest from a host of clubs
Papadopoulos has been heavily linked with a move to Liverpool throughout the summer, with some reports even suggesting that a deal had already been agreed only to be held up as the player recovered from a serious knee injury.
But now Heldt has dispelled rumours that a move to Anfield is all but complete and stressed that while there has been interest from a number of clubs, Schalke are yet to receive an official bid for the player.
Liverpool are yet to formalise their interest in Kyriakos Papadopoulos
Rumours of a Liverpool deal for Kyriakos Papadopoulos proved unfounded
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Speaking to German newspaper Bild Heldt said: "There are a lot of clubs to take into account.
"Specifically, there is nothing that has arrived, as far as I know."
Heldt also stressed that while Schalke will speak to Papadopoulos about a transfer if a formal offer arrives, he is hopeful that the German club can hold onto the 21-year-old.
He added: "We're going to speak to each other when it takes concrete form.
"There is currently nothing concrete, and besides, he is a mainstay for Schalke."
Horst Heldt has said Schalke want to hold onto Kyriakos Papadopoulos
Brendan Rodgers wants to add to his squad
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Papadopoulos rejected a £16m move to Zenit St Petersburg last summer but it is thought a £13m offer may be enough for Liverpool to prise him away from Schalke as Brendan Rodgers looks to strengthen his squad as rumours about Daniel Agger and Martin Skrtel refuse to go away.
Daniel Agger is the subject of interest from Barcelona
Martin Skrtel has been linked with a move to Napoli