Martin O'Neill insists there was no bust-up with Aston Villa owner Randy Lerner over reports that James Milner was to join Manchester United.
And, while there has been speculation over his own future, O'Neill is also adamant that Lerner is not set to quit the midlands club.
O'Neill said: "There was a story that I had fallen out with the chairman because of a supposedly imminent transfer of James Milner to Manchester United.
"James would be worthy of playing in a side like that. I wouldn't think for one minute that top clubs wouldn't be interested in James Milner.
"He has been splendid for us this season but there is not one ounce of truth in the story. It is ludicrous."
O'Neill has spent a net £80million on new players in his four years at Villa.
He believes those players have increased significantly in value should Lerner ever decide he wants to leave Villa.
But O'Neill is confident that is far from the case with Lerner who also owns NFL side Cleveland Browns.
He said: "Since I arrived here four years ago, I've invested £80 million of the chairman's money and if he wanted to sell some of those assets - which he has not intimated at all - he would get that money back, and with a bit of interest as well.
"If you wanted to let four or five of the top quality players leave this club, you would get your money back but that has not been Randy's notion and I think he is trying to think about improving Villa Park as well.
"I don't think he is ready to walk away or worry himself unduly about his investment at all because he knows it is there on the pitch. We have a number of top quality players at this club."
AC Milan are lining up a £20million summer swoop for Manchester United defender Nemanja Vidic, while Inter Milan hope to sign Steven Gerrard.
it will be great if milner does join united. he can play in the wings and in the centre as well, very versatile. I am wondering how come fergie did not fancied him before he joined villa? same also with adam johnson before he joined man city.
TEAMtalk's Simon Wilkes thinks Sir Alex Ferguson needs to put Benfica winger Angel Di Maria at the top of his shopping list this summer.
It appears Ferguson is going to stick around for another one, maybe two seasons after the end of this campaign.
He is desperate to win a 19th league title for Manchester United and is also keen to get his hands on the Champions League trophy for a third time.
Veteran trio Gary Neville, Paul Scholes and Ryan Giggs all started against Chelsea at Old Trafford on Saturday - but this season needs to be their final hurrah in terms of regular action, meaning Ferguson needs to do some wheeling and dealing this summer in order to leave a lasting legacy for whoever has the nuts to fill the Scot's boots in the United hot-seat.
I think Ferguson's number-one transfer target should be Di Maria, who put on a dazzling display against Rafa Benitez's Liverpool troops in Benfica's 2-1 Europa League win in midweek.
The 22-year-old Argentinian was simply unplayable and ran the Reds defenders ragged.
He has long been linked with a move to Old Trafford or Stamford Bridge, but Sir Alex should bust a gut to beat the Blues to his signature, as he could be the perfect replacement for the Rolls Royce that is Giggs on the left flank.
With Antonio Valencia having made the right-sided role his own this season, and Nani able to play adeptly on both flanks, Di Maria's arrival would sort United's wide options for many seasons to come.