Newcastle United did not make a £15 million ($19 million) bid for Miguel Almiron as has been reported, according to Rafael Benitez.
Atlanta United star Almiron is set to face the Portland Timbers in the MLS Cup on Saturday having hit 13 goals in the run to the final.
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Reports have claimed Newcastle, again the subject of takeover talk, is keen on a January move for the Paraguay international, putting a lucrative offer on the table.
Atlanta president Darren Eales described the suggestion Almiron could leave on loan as "laughable" while saying the 24-year-old would not be allowed to depart for "chump change."
And Benitez, who highlighted West Ham's spending after his team went down 3-0 to Manuel Pellegrini's side in the Premier League on Saturday, also dismissed the Almiron speculation.
He told reporters on Friday: "I don't talk about players, but I've heard that someone has said we made an offer and after, we said: 'No, we didn't make any offer.'
"We don't talk about players. If we make an offer, they will know, we will know and not necessarily the press will know.
"At the moment, there is no news and we carry on with the players that we have trying to do our best for the next game."