The National League (NL) MVP runner-up looks set to be given one of MLB's longest and richest contracts.
But Loria said there was no deal "imminent" as much as he hopes an agreement will eventually be sorted for the 25-year-old.
"Nothing is imminent. We're having long, ongoing discussions," Loria told the MLB website.
"Someone has turned this into a situation which it really shouldn't be. I really can't say much more.
"Michael [Hill, president of baseball operations] and Dan [Jennings, vice president, general manager] are talking to Stanton and his people, and we'll see where it goes.
"Believe me, there is nothing imminent today whatsoever."
Stanton finished second to star Los Angeles Dodgers pitcher Clayton Kershaw in NL MVP voting.
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