Sven-Goran Eriksson is unhappy with a newspaper report saying he had targeted Newcastle for his return to management.
The former England coach's agent Athole Still said the suggestion was "malicious" in light of the fact Glenn Roeder was in charge at St James' Park.
"I've spoken to Sven and he's not happy at the article saying he has targeted Newcastle," said Still.
"To say he has targeted the job of another coach is absolutely unacceptable and is malicious."
Still added: "To suggest he is looking at a club where there is another professional coach in situ, it is absolute rubbish to say that. He would never do that."
Meanwhile, Newcastle chairman Freddy Shepherd has also dismissed the speculation.
The Magpies chief told the club website: "This is all news to me.
"I have not spoken to Sven since he left the England job and I have no intention of speaking to him.
"Neither have I spoken to his agent Athole Still and, as far as I am aware, they have not tried to approach us.
"In any case if they did, it would not matter because we already have a manager."
Roeder's side currently lie only two points from the Premiership relegation zone after a succession of poor results.
Meanwhile, Still claimed there were no shortage of suitors for Eriksson.
He added: "There have been lots of clubs interested but somebody at his level has to wait for the right job.
"The right job will come and I believe it will come sooner rather than later."