The Scotland international has enjoyed two prolific seasons at Ewood Park since joining from Huddersfield Town,
scoring 51 Championship goals in 89 appearances.
Rhodes' signature cost Blackburn £8million two years ago, and there has been widespread speculation that Norwich would make a bid to help them bounce back straight back to the Premier League.
Those rumours were sparked by Joe Royle's appointment as football consultant at Carrow Road, Royle having
worked with Rhodes at former club Ipswich Town.
Lewis Grabban arrived from Bournemouth on Thursday to bolster Norwich's attack, and Adams moved to rubbish any talk of an imminent move for Blackburn's front man.
"I've seen it, I've seen all the rumours," he told The Pink Un.
"I think they've put two and two together and come up with 25. Obviously Joe Royle had him as a young player, and I played with his dad Andy Rhodes.
"That's where the links are. We've made no offer for Jordan Rhodes - fantastic player, don't get me wrong.
"Scores goals for fun, guarantees goals. But there's been no offer."