"Arsenal and Spurs have been tracking Ryan for a couple of years now," Fry told the Peterborough Evening Telegraph.
"I have had conversations with them and with half-a-dozen other clubs, but it's only talk so far and I wouldn't expect that to change any time soon.
"Ryan recently signed a fresh deal with us. He's happy here and he loves working for our manager.
"Obviously if someone bid £10million that new contract wouldn't mean a lot! But that isn't likely to happen.
"There is no rush because Ryan is just going to get better and better. He's playing in a great standard of football now and has looked very impressive."