Peterborough chairman Darragh MacAnthony has reacted angrily to reports that he will be forced into selling star striker Aaron McLean.
McLean handed in a transfer request earlier this month after being refused a move to Wolves and reports on Sunday suggested property magnate MacAnthony had decided that he would cash in on his asset after his business was hit by the credit crunch.
MacAnthony has hit back at the rumours and revealed he is seeking an apology for the report.
"I read the story and it made me wonder why I bother," MacAnthony told the Peterborough Evening Telegraph. "I turned down £2million up front for this player 10 days ago and now apparently I need the money and will even take less!
Rubbish"My lawyers are demanding an apology and damages for libel. I'd love to know the source of this rubbish and if it has come from certain agents or a certain Championship club, all hell shall break loose.
"Rubbish like this in the media puts doubt in the minds of my clients and my many employees. It's incredibly irresponsible journalism which is nothing new in my life, but it makes me more determined and more focused and determined to prove people wrong.
"I have just spent £200,000 on Sergio Torres from Wycombe and £50,000 on taking the team away to Spain for a week which hardly backs up the story in the paper. Nor does the fact that I have just taken delivery of an SLR McLaren convertible which set me back £1million."