Vitesse Arnhem technical director Ted van Leeuwen has denied reports Newcastle have launched a bid for striker Wilfried Bony.
Speculation emerged on Sunday that the Magpies could be set to sign their sixth player of this month's transfer window after making a move for the 24-year-old Ivory Coast international, who has also been linked with Chelsea and Liverpool.
But Vitesse chief Van Leeuwen has dismissed claims Newcastle have submitted an offer for the striker, currently representing his country at the Africa Cup of Nations.
He told Omroep Gelderland of Bony, who has scored 16 goals in 18 Eredivisie games this season: "As far as we know, nothing has happened so far. Or it would have had to have been outside the club. I haven't seen a fax."
Bony is contracted at Vitesse until 2015 but has been heavily linked with a move to a bigger club and could leave the Dutch side with a void to fill should he depart this month.
Leeuwen says the club are looking for reinforcements ahead of Thursday's transfer deadline but admits it is currently a waiting game.
He added: "It's very difficult. The market is tightly shut and top prices are requested.
"Colleagues are also complaining about that. But we are still keeping our eyes open.
"We have to wait on a domino effect. On the other hand we are also bonded by our budget. We can't simply buy. So it could also be nothing will happen."