Peter Storrie dismissed fears Harry Redknapp could walk out on Pompey to join Newcastle, reports The News.
And the Blues' chief executive is convinced his manager is happier than ever before at Fratton Park.
He said: "When you are doing well your team gets linked with everyone.
"Like all players, everybody talks about Benji, Muntari, Utaka, Distin and on and on and on. They are people who are doing very well for this football club and Harry's the same.
"What he has achieved here has obviously caught people's eyes.
"Everything is going very, very well and unfortunately he will get linked with other clubs.
"But he's not going anywhere.
"Harry has just signed a new contract and is very happy here. If he wasn't happy, surely he wouldn't have even signed the contract?
"No doubt today he would have been linked with the England job if McClaren had been sacked. That's no longer the case now.
"Players and managers linked to other clubs is always going to happen. Unfortunately, there's nothing you can do about it.
"All I can say, though, is I cannot for the life of me understand why Harry would sign a contract if he wanted to leave."
