Ipswich Town have rejected claims that a fee has been agreed with Burnley for Alan Lee.
Reports have suggested that Burnley want to re-sign the Republic of Ireland international to replace Andy Gray after the club's top scorer joined Charlton Athletic.
But Ipswich chairman David Sheepshanks has refuted speculation that an offer from the Clarets has been accepted.
"Contrary to newspaper reports, I can confirm that we have not accepted a bid from Burnley for Alan," Sheepshanks told the club's official website.
"Jim (Magilton) spoke to the media after Saturday's game and told them exactly that, that no bid had been accepted for Alan from Burnley.
"At this stage, that is exactly how it stands."
Lee spent almost 18 months with Burnley in his career, but scored just once in 20 appearances after a £200,000 switch from Aston Villa.
He has scored eight Championship goals for Ipswich this season and netted in a 2-2 draw at Turf Moor in October.