Portsmouth chief executive Peter Storrie has flatly denied that goalkeeper David James will be leaving the club in January.
James has been linked with a move to Premier League champions Manchester United, but Pompey insist he will be staying at Fratton Park.
Portsmouth are believed to have racked up debts of around £80million and could sell some of their prized assets to keep the club afloat.
The 39-year-old England international has been sidelined through injury of late, and the Red Devils are reportedly interested in his signature.
However, Storrie insists he will not be leaving the South Coast, despite the financial problems.
"The truth of the matter is, if the owners decide they want to sell players to bring money into this football club then that is their decision," he told the Portsmouth News.
"If someone makes an offer for a player they will consider it - and there have been some enquiries. But not a single one has come for David James.
"There has been no interest whatsoever and I am not sure where all this talk of interest is all coming from.
"As far as we're concerned, he will remain here. There has been no interest in David James."
Pompey are currently rock-bottom of the Premier League with 14 points from 20 games and travel to Craven Cottage on Saturday to play Fulham.