The Russia international was expected to leave the Bernabeu before the close of the recent transfer window after returning to the La Liga giants from a loan spell at Villarreal.
Liverpool were strongly linked with a move for him as they sought to replace departed star Raheem Sterling, before Arsenal were credited with a late interest in the 24-year-old.
However, Cheryshev was not the subject of a late move from either side, and looks set to feature in Real’s first-team plans until at least January.
And when quizzed on the £146m release clause in his contract, the pacey wide-man claimed that his current side inserted such a sum for a reason, as they have no interest in selling him on:
“That’s what the club decided. No doubt Real Madrid do not want anyone to sign me.” He told Sport Express (via AS).
“There was interest and proposals to take me on loan, but Real Madrid did not want to let me go.”
Cheryshev is most at home on the left hand side of an attacking midfield three, putting him in direct competition with current Ballon d’Or holder Cristiano Ronaldo.
However, the Russian has claimed that he’s ready to take on CR7 for first-team football:
“I’m conscious that at the moment Ronaldo plays in my position, but that does not scare me. When I get a chance I am to take the opportunity. I’m not frightened of anything.”