11/05/2012 06:16 pm ET

Shia LaBeouf Rep Dismisses 'Transformers 4' Rumors About Money: Report

Reports of star Shia LaBeouf's role in a fourth "Transformers" film have centralized around how many millions he will get, but a representative for the young actor denies that LaBeouf is attached to anything -- payday or no payday.

LaBeouf, 26, reportedly wanted a whopping $18 million to appear in a fourth "Transformers," Star magazine reported, according to GossipCop. Producer Steven Spielberg allegedly refused to consider funneling funds that could go toward special effects into LaBeouf's bank account, a source told the tabloid.

A rep for LaBeouf, however, dismissed Star magazine's report of money feuds.

“The story is a complete fabrication," the rep told RumorFix. "While Shia remains very close with the filmmakers/studio, he was never attached to the fourth installment (nor is he in negotiations at this time). Salary did not impact his decision.”

Money is not the main focus for LaBeouf, who told USA Today that he'd give away the millions he made on "Transformers" any day. "If I could give the money back and get all the credibility in the world that I'm seeking, I would do it tomorrow," he said during an August interview. "In a heartbeat."

LaBeouf, who will star in Lars Von Trier's "Nymphomaniac," has also cited his character Sam Witwicky as a reason for not returning to the blockbuster flick. Sam, he thinks, is a dead end.

"I just don't think right now there's anywhere to take Sam," LaBeouf told MTV News last June about returning to Michael Bay's franchise. "I was [17] when I met Michael, and I'm sort of Michael Bay-raised. I've learned a great deal from Michael, as a person, as an actor, as a person on set. And it's not that I don't enjoy working with Michael. I love working with Michael. I would do any movie Michael wants to do."

Buzz around the yet-untitled "Transformers 4" has increased recently. Bay hopes for a June 27, 2014, release, according to ComingSoon.net. The fourth film will likely be the last.

"I'm thinking that if I do this last one, we set it on a new footing and we change a lot of things, but we keep the history of the three in place. But we broaden it so it can be set up and be carried on -- it would have a better chance for survival, I guess…" Bay said, according to ComingSoon. "The bottom line is, when you go to Universal Studios and you have the two-and-a-half-hour line, it's hard to give it up. You birth a baby and you want to carry it on."

The "Transformers" franchise has grossed more than $2.7 billion worldwide with three installments.