Madjid Bougherra claims he would only leave Rangers for the English Premier League, while Walter Smith insists there have been no bids for the defender.
The Algeria international has been strongly linked with a move to Bordeaux and admitted he considered joining the French champions.
It had been reported that an offer of £4million had been tabled for the former Sheffield Wednesday and Charlton centre-back.
But Smith is adamant that they have received no approach from the Stade Chaban Delmas outfit and has reiterated chairman David Murray's stance that their key men are not for sale.
He said: "Despite reports to the contrary there have been no bids for Madjid.
"We have not been contacted by Bordeaux in regards to Madjid and that's the end of the story as far as we are concerned.
"As the chairman has said on a number of occasions he is a player we are not looking to sell.
"The strange thing is the story keeps getting repeated but we have had no contact with anyone from Bordeaux.
"I don't mind a bit of speculation but this story has been rumbling on for a week now. They have never been in touch with us."
That contradicts comments attributed to Bougherra who, while happy at Ibrox, says he seriously contemplated the offer of a return to the country of his birth.
He told the Daily Record: "I thought long and hard about it.
"I weighed up the pros and cons of the move but I feel good at Rangers and the British game suits me.
"If I need to leave it will be for the English Premier League."