Sheffield United says the row between team-mates Ade Akinbiyi and Claude Davis has now been resolved.
Akinbiyi (right) says the row lasted a couple of minutes
A blade was reportedly used in a training ground bust-up, but an internal investigation found little more than "a difference of opinion".
"They did have a difference of opinion, the sort of which occurs often in dressing-rooms," the club stated.
"No razors or knives were involved, the pair have shaken hands and the disagreement has been resolved."
The row is thought to have stemmed from a comment Akinbiyi made towards the Jamaican defender following Davis' sending-off against Everton in their 2-0 defeat at Goodison last Saturday.
Akinbiyi told the Daily Mail: "There was a lot of argy-bargy, but that was about it."
It was reported that Davis approached his team-mate while holding a razor but Akinbiyi said: "I'm not saying he did or didn't pull out a razor. There was a row that lasted about two minutes."
The argument is understood to have taken place at the club's training ground on Monday in front of the coaching staff while boss Neil Warnock was away.
Warnock said: "I don't know anything about this whatsoever, and I'm close enough to know if something like that had happened. It sounds like rubbish."