Reports that Martin O'Neill has quit as manager of Aston Villa have been dismissed by sources at the Premier League club.
Radio and internet speculation on Tuesday suggested O'Neill had decided to end his four-year reign at Villa Park after a bust-up with club owner Randy Lerner over his transfer budget.
Bookmakers had slashed the odds of O'Neill to be the next top-flight boss to leave his post.
Villa are unwilling to comment officially on reports, but sources close to the club are adamant the claims O'Neill has opted to leave are "pure nonsense".
O'Neill spent heavily last summer in bringing in the likes of James Milner (£12million), Stephen Warnock (£7m), Richard Dunne (£6m), Fabian Delph (£6m) James Collins (£5m) and Habib Beye (£3m).
He recouped £12m of this outlay from the sale of Gareth Barry to Manchester City, but in January he admitted he had to adhere to a "sell to buy" policy if he was to bring in new players during the winter transfer window.
O'Neill did not add to his squad and sold midfielder Craig Gardner to local rivals Birmingham for £3million.
He has admitted Villa do not have the strength in depth of the established leading clubs in the top flight.
And his squad is now being stretched to the limit because of injuries to Dunne, Milner, John Carew, Emile Heskey, Gabriel Agbonlahor and Stiliyan Petrov, with several of them playing when not 100% fit.
There has also been no public response from Lerner as to how much money - if any - O'Neill will have to bolster his playing strength this summer.
But chances of obtaining a UEFA Champions League spot and its financial riches have floundered.
Villa are now seven points adrift of fourth-placed Tottenham after the 7-1 loss at Chelsea on Saturday, their first league defeat of 2010