Is Mary-Kate Olsen engaged to older boyfriend Oliver Sarkozy?

Mary-Kate Olsen has made her feelings for her 43-year-old beau Oliver Sarkozy no secret. From basketball games to the streets of Paris, these two have been laying on the PDA heavy — but has their new romance led Oliver to make the ultimate proposal to his millionaire girlfriend?

According to Star Magazine (via Jezebel), Olivier has proposed to Mary-Kate with a $350,000 (OMG that’s worth like 7 of her luxury pill handbags!) 12-carat marquise-cut diamond ring, but unfortunately for Oliver, Mary-Kate wasn’t quite ready for that kind of commitment. “She is 26 and in no rush to get married and tried to give the bauble back,” their source claimed. “He insisted she keep it and they are calling it a promise ring.”

While the story sounds plausible, it turns out the whole thing could be false. A source close to Mary-Kate tells Gossip Cop there is “no truth” to Star Magazine‘s story. Not only did Mary-Kate not turn Oliver down, there was never any ring to begin with the source added.

Mary-Kate had first began dating Oliver, whose brother is the former President of France, back in May of last year. She had previously dated Greek shipping heir Stavros Niarchos III (2005), Maxwell Snow (2007-2008), and Nate Lowman (2008-2010) — to name a few.

Before his relationship with Mary-Kate, Oliver was married to Charlotte Bernard with whom he has two children. The couple married in 1997 and divorced in 2011.

Top Photo: Wenzelberg / Splash News