Pilgrims winger Noone has already been the subject of a rejected approach by League One leaders Brighton, while Wright-Phillips, who is the division's leading scorer, has also been linked with a move out of Devon.
Reid said: "These things happen - the likes of Manchester United have to sell one of the great players, Cristiano Ronaldo, and Everton had to sell Wayne Rooney many years ago to keep them going.
"I've just got to get on with the job of running the team - there's a board of directors who look after the finances of the club and I leave it to them.
"The most important thing is the football club, we need to get it sorted out because this football club, like I've said on many occasions, has got great tradition."
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