Derby County chief Tom Glick has rubbished claims of an imminent takeover by Peter Gadsby.
Gadsby, the former chairman, made a £37 million offer for the club on Thursday but Glick is doubtful about his motives.
"I have questions about the true intentions about this - the whole thing is a farce," Glick said. "The club is not for sale and we are not interested in receiving any more bids."
"We do not appreciate the behaviour of the other party and the style in which this has been handled.
"It has been a distraction but we will not let this disrupt us. We are continuing to work to our plan, to run this club in a sensible way, to win promotion to the Premier League and to secure our position there.
"I don't think the facts stack up in Peter Gadsby's favour. We have sorted out the financial mess we inherited from him and have put the club on a sound financial footing."