One of new chairman Adam Pearson's first tasks is to cut a damaging £36million annual wage bill and it has been suggested a number of players could be offloaded in January.
But Fagan expects players to be concentrating on duties on the pitch rather than thinking about their futures.
The striker said: "Speculation happens but it just makes people more positive going into the game, wanting to get a win for the club.
"I don't think the lads are affected by that.
"My contract is here until the end of next season, so it doesn't affect me whatsoever.
"We're all in it together. If it takes 15 players to keep Hull in the Premier League or 35, I don't think the fans will be moaning. It doesn't matter how big the squad is."