The Porcupine Warriors are without a head coach after parting ways with Zdravko Lugurasic few weeks ago following series of poor results.
Club legend Frimpong Manso has been appointed as caretaker coach and assisted by Godwin Ablordey.
"There's no truth in the rumours because Steve Pollack won't join Asante Kotoko," Sarfo told Otec FM.
"Pollack says he has no business to do in Kumasi so if Kotoko want a new coach to replace Zdravko Lugurasic, they can look elsewhere. We want to challenge for the title so we need the best of qualities to achieve this aim," he added.
Aside Pollack, the Porcupine Warriors have made bid for Chelsea's in-form striker Stephen Sarfo, who has scored eight goals after 13 games.
"Kotoko want our striker Stephen Sarfo but I don't think they can meet our price tag. He's a young player with bright future so if Kotoko can afford $250,000, we can release him but our main target is Europe," Sarfo said.
Kotoko sit fourth on the log with 20 points, nine points behind leaders Wafa.