Reports have linked Donegal's boss with a move to the Premier League side, but his chief says any move is "total news" to him, while the Reds have refused to commentLiverpool.
This year, McGuinness guided Donegal to their second All-Ireland Gaelic football trophy, as well as retaining the Ulster Championship for the first time in the county's history and he has been praised for his meticulous approach to match preparation.
According to the Irish Times, the Donegal boss, who has lectured widely in the field of sports psychology, has close links with current Liverpool manager Brendan Rodgers and has recently been linked with a backroom role at the Anfield club.
When contacted by Goal.com, Liverpool refused to comment on a move for the Irishman.
Donegal county board chairman PJ McGowan has described the reports as 'total news' to him and stressed that the Glenties native would remain with the All-Ireland and Ulster champions for at least another two years.
He said:"Jim was appointed for four years and he has only done two. He wanted four years himself and that’s what we agreed to.
"This is total news to me. We have already talked to Jim about plans for what he intends to do over the winter months and next year.
"What Jim does in his own time is his business but this would be a total shock," concluded McGowan.