The 21-year-old, who competed for Uruguay at the London Olympic Games, has been linked with a summer switch to the Premier League.
"The only solid offer is the one from Tottenham, who offered £12.6m," Betancourt told Calciomercato.
"But the deal didn't go through because Spurs offered too low a wage to the player and if the wage difference is minimal he would stay at Bologna.
"Tottenham could raise their offer if they sell Modric and in that case the deal could be done, otherwise Ramirez will stay another year at Bologna. We also talked with Liverpool but nothing more."
The highly-rated playmaker has been with Bologna since 2010.