Bristol have rejected a bid from a South African consortium to buy the club and relocate it to London, BBC Bristol has learned.
Bristol are happy to stay where they are
The consortium's offer was immediately and unanimously turned down by the club's directors.
A club statement said: "We are pleased we are held in sufficiently high esteem to be approached but such a deal has no place whatsoever in our plans.
"We made it very clear...that Bristol is and always will remain in the city."
Bristol were relegated from the Premiership last season and finished their first campaign in Division One in ninth place.
They are the latest club to be approached by what are thought to be two separate South African consortiums bidding to find a foothold in the British domestic game.
The Shoguns' league rivals Orrell were approached last month as were Division Two side Wakefield.
Wakefield director Peter Bulless said: "Enough is enough. I can't see how we can make a go of professional rugby."
Reportedly, unsuccessful informal approaches have already been made towards Saracens, Harlequins, London Irish and Wasps, with Rotherham and Orrell also linked to takeover bids.