The 24-year-old has been strongly linked with both Bayern Munich and Manchester United in recent months.
“We could of course sell him for a lot of money. However, we would not be able to bring in a replacement of his calibre. Should we sell the best goalkeeper [in Germany] and be happy to settle for seventh place?,” Magath told Kicker.
“My position is different. I would rather play for the Champions League or the Bundesliga title. Manuel is definitely staying until 2012.”