A Zamalek source said that Adel signed a deal with the club on Sunday and that the Egyptian League runners-up will pay Olympic the EGP 400,000 buy-out clause.
"I went to Zamalek club just to see my friends Amr Zaki and Magdi Atwa." Adel told FilGoal.com on Monday.
"I didn't sign any deals but I read in the newspapers that Zamalek are interested in my services."
Adel revealed he may leave Olympic in case any club pays the buy-out clause, although his contract runs out in 2009.
But Olympic vice-president Amr Meselhi insisted Adel can't depart without the club's approval.
"The buy-out clause will be activated one season before his deal ends, not now," he told FilGoal.com.
Adel netted the winner in Olympic's 1-0 Egyptian League victory over Zamalek in September.