Barnsley owner Peter Doyle admitted that he had heard the reports but said: "I can categorically state that I have not spoken with Peter Ridsdale or had any word from the man,".
The Reds are still not out of adminstration and Doyle has, for some time, talked of a deal with a mystery consortium, although not Ridsdale's.
"We are near to a deal being struck,'' he said yesterday.
"I own this club lock, stock and barrel and I am trying to make Barnsley Football Club successful," he added.