Former Leeds United director Adam Pearson has distanced himself from a takeover of the Championship side owing to his commitment to rugby league.
With Leeds' owners GFH Capital - who completed their purchase of the club on December 21 - saying they are open to investment from the right partners, Pearson was thought to be someone who was looking to get involved.
But Pearson told Hull FC Live on Tuesday morning that he is remaining at the KC Stadium.
"It's a funny one because Hull FC is mine. I own the club, it's my baby and I want to grow and develop it. Football is my business and I'll always get rumours and connections in football as that's my industry," he said.
"Leeds is a club that I live close to and I've worked there before so I understand how big a club it is but at this minute in time, it's not for me. My focus is completely on Hull FC and my other business interests.
"There'll be no movement to Elland Road in the near future. This is my complete focus and so I'd like to squash those rumours once and for all. I've not made a single comment in the press about it and all my focus and financial backing is on this club."