"I know nothing about it and neither does (chief executive) Tony Scholes. I haven't spoke to Tony Pulis yet, but I doubt he knows anything about it either," said Coates.
"I spoke to Tony on Thursday and we discussed nothing of that kind. We know what players we are looking for and who we want.
"When I speak to Tony, we talk about players coming in and players going out. I don't know where this story has come from, but there is no substance to it."