Liverpool chairman Tom Werner dismissed reports that a consortium led by Amanda Staveley made a £1.5 billion offer for the Premier League club.
A story had emerged in Dubai, where Staveley is based, earlier on Thursday claiming Liverpool owners Fenway Sports Group decided to reject a huge ownership bid.
But Werner moved quickly to deny the notion, insisting there was no truth to the offer – despite Staveley being pictured at the club's fixture against Newcastle United on October 1.
"We have better things to do than batting down rumours about negotiations with Ms Staveley," he told the Liverpool Echo. "However, there's no truth to them."
Staveley has been tipped to make an alternative move for Newcastle – after owner Mike Ashley officially put the team up for sale earlier this month – with the same Dubai report suggesting she looked to the Tyneside club after a swoop for Liverpool became impossible.
And former Newcastle goalkeeper Shay Given believes Rafael Benitez's men could become a global force with the right backing – as was the case at Manchester City, another of his former clubs.
"A club like Newcastle, if it has proper financial backing, it can go wherever it wants really," Given said, as reported by the Telegraph.
"It's got the stadium and the fanbase already. I don't know much about Amanda Staveley, but I hear she's got family who are from the area and, if she takes over, of course it is realistic for Newcastle to be as big as Man City.
"Look where they were when Sheikh Mansour took control, they were bobbing along in the bottom half of the Premier League and look where they are now.
"They are one of the favourites to win the Champions League and they are probably favourites to win the Premier League."