Motherwell have made an approach to sign Don Cowie but Inverness insist any deal will not involve a player in exchange. Inverness' director of football Graeme Bennett says manager Craig Brewster has ruled out the midfielder leaving in such an arrangement.
"Mark McGhee spoke to Craig Brewster about a possible swap, but that was not something which would appeal to Craig or the club," Bennett told the Press and Journal.
"Unless it was one of Motherwell's best players involved, and that is not the case, then there would be little benefit to Caley Thistle."
Bennett also confirmed that talks regarding a new contract for Cowie are continuing.
He added: "We have remained in discussion and spoke again on Tuesday.
"Nothing has been decided yet and, although there has been a lot of speculation, the only direct contact from any club has been the approach from Motherwell.
"Don had said all along he wants to look at his options and that is fair enough.
"There is bound to be interest in him because he is a good player, but we have not given up hope that he could stay.
"Hopefully, Don and his agent will get back to us and we will have a better idea of his intentions in the next 24 hours."