Hibernian manager Alan Stubbs insists no bids have been made for Scott Allan despite reports linking the midfielder with both Celtic and Rangers.
While Celtic insist they have made no approach for the 23-year-old, it is believed that the Ibrox club have made a tentative enquiry.
"There are no bids that I know of," Stubbs told Sky Sports News.
"Scott Allan is a Hibs player and I don't see any reason why that should change."
Stubbs was talking as it was announced that defender Liam Fontaine has agreed a new two-year contract to remain with Hibs and confirmed the release of midfielder Scott Robertson and striker Franck Dja Djedje, who has joined Al-Shahania, who play in the Qatar Stars League.
Celtic manager Ronny Deila on Wednesday refused to talk about Allan or any players with other clubs, while Rangers manager Mark Warburton said this week that he was only one of a large number of names that have cropped up in conversations about potential signings.
Stubbs believes Allan's worth on the park is more important to Hibs than any potential transfer fee for last season's Scottish Championship player of the year.
"Scott has one year left on his contract and we as a club are comfortable with the situation," said the manager of the player who signed after being released by West Brom last summer.
"The one thing we are thinking about is the club itself and the most important thing is that we try and put a team together that's going to be fighting for promotion.
"When you do that, you have to have your best players and Scott falls into that bracket.
"We can't stop teams from putting bids in, but we are not welcoming them at all."
The 29-year-old Fontaine, who joined Hibs last summer after being released by Bristol City, told the club website that he was pleased to stay at Easter Road because he enjoyed working with Stubbs.
Departing striker Dja Djedje, previously of Dinamo Minsk, joined Hibs in January and scored three goals in 15 appearances, most from the substitutes' bench.
However, the 29-year-old former Ivory Coast Under-23 international who started his career with Paris St Germain has come to an agreement to cut short his contract a year early and has signed for Al-Shahania, who play in the Qatar Stars League.
Robertson, capped twice for Scotland, joined Hibs in January 2013 after leaving Blackpool and the 30-year-old made 87 appearances for the Edinburgh side, including 41 last season.