Under-fire Liverpool co-owner Tom Hicks says he has no intention of selling his 50% stake in the club.
Gillett (left) and Hicks took over the club in March 2007
BBC Sport understands that Dubai International Capital (DIC) is considering making an offer to buy out Hicks and co-owner George Gillett.
But Hicks said: "I've not received any offer to purchase the club from DIC or anyone else, much less accepted any such offer.
"Nor do I have any intention of doing so," added the American.
Hicks and Gillett are currently looking to refinance the club's debt and BBC sports editor Mihir Bose said a deal to do that could be struck in the next few days.
The Americans are trying to arrange a £350m loan that would enable them to repay money borrowed for their £218.9m takeover in March 2007.
They would also then be able to repay loans used to sign players and start work on a re-scaled plan for a new stadium in Stanley Park.
However, DIC has been alerted to the possibility that Hicks and Gillett may instead prefer to sell the club rather than refinance.
"Tom Hicks is right to say he hasn't rejected an offer from DIC because I am told they haven't made one yet," Bose told BBC Radio 5 Live.
"However, I understand that DIC is prepared to pay about £400m for Liverpool."
Reports in Liverpool on Sunday suggested that the club had already been sold to DIC.
"Whoever is behind this false report, the facts are that I and my family have always been, and remain, fully committed to co-owning the club," said Hicks.
"No-one in my family has ever indicated any intention or desire to sell our stake in the club.
"We expect and intend to be co-owners of the club, and to actively and enthusiastically support the club's manager, players and fans for many years to come."
There is clearly a strain in the relationship between the two owners
BBC sports editor Mihir Bose
Liverpool decided to sell to Hicks and Gillett instead of DIC last March but the American businessmen in particular Hicks, have been criticised for the way they have run the club.
Hicks admitted to talks last November with Jurgen Klinsmann about the German taking over from Rafael Benitez as manager.
The owners and Benitez have also had a very public spat after the Spaniard criticised their transfer policy.
"There is clearly a strain in the relationship between the two owners," said Bose.
"Gillett brought Hicks in last-minute to get him to help with the deal last year. Gillett was the guy who convinced David Moores to change his mind and sell the club to them.
"Both Americans are businessmen, but Hicks is the more successful - he would be looking to make a profit, but it does not mean he would necessarily sell his stake.
"DIC is clearly interested in the club - but only at the right price."