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Last Updated: Thursday, 13 July 2006, 16:01 GMT 17:01 UK
Mandaric scotches Wolves rumour
Portsmouth chairman Milan Mandaric
Mandaric is due to sell his stake in Portsmouth
Portsmouth chairman Milan Mandaric has denied he is planing a 15m takeover of Championship club Wolves.

Mandaric is due to sell his remaining stake in Pompey to joint-owner Alexandre Gaydamak for 32m.

The 67-year-old told The News that recent conversations with Wolves owner Sir Jack Hayward were purely social.

Mandaric said: "I talk to Sir Jack regularly but it is only to chat. Because I am selling Pompey, people have put two and two together."

Mandaric's conversations with Hayward sparked rumours which the Pompey chairman was forced to nip in the bud by confirming: "I'm not in talks about buying Wolves."

The Pompey chairman has not declared his plans, and despite being linked with a club in Slovakia, could even stay on at Fratton Park as non-executive chairman.

Mandaric said: "If I leave Pompey altogether, then one day I might get involved with someone else, but it's not happening now."

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