Cagliari president Massimo Cellino won't consider selling up.
Cellino is frustrated over a long-running row with local city officials.
"I have never thought to quit Cagliari," began the statement prepared by Cellino.
"I would not want the headlines to give the impression that I am willing to give up under the weight of the malicious insinuations that for years now have unfortunately regularly targeted my person.
"We have always tried with our actions at Cagliari to hold high the prestige of the city and the island. Current circumstances have caused us to find alternative ways to be sure to fight off relegation in Serie A.
"Unfortunately we cannot stop and our focus must constantly be on the future.
"In the end, I have the same goal [as the mayor], to preserve the image of the city. We are just two men with responsibilities and commitments we cannot ignore. The city of Cagliari and Cagliari Calcio existed before us and will continue to exist after us."