Saudi sports investor F6 claim George Gillett's talks with them were not about buying his stake in Liverpool.
Liverpool co-owner Gillett visited Riyadh this week to discuss possible investment opportunities with reports suggesting Prince Faisal bin Fahd bin Abdullah could buy Gillett's 50 per cent stake in the English giants.
Gillett was in Riyadh mainly to discuss a project regarding the creation of Liverpool soccer academies around the region
And F6 deputy managing director Gassim Hamidaddin insists buying Gillett's share in the club was not on the agenda.
"That was the main purpose, and that's what happened during the visit. There were no talks on buying Liverpool," Hamidaddin told AFP.
Hamdaddin insisted Gillett's visit was aimed at building on the two sides' agreement to create the Liverpool academies in Saudi Arabia and northern Africa.
"Gillett visited three Saudi football clubs, and examined local facilities with Prince Faisal," added Hamdaddin.