The Gunners have reportedly received £1 million bids for the 20-year-old from Pompey, Burnley and Ipswich.
But Cotterill told The News: "We haven't put in a bid for him. There is absolutely no truth in that whatsoever.
"He's not a player who has been on our radar at all this year. I have no idea where that has come from.
"Maybe he is going somewhere else and the agent is trying to drum up interest. But there is no interest from us."