Ryan Giggs has had no contact with Sunderland over their managerial vacancy despite bookmakers slashing the odds on his appointment.
On Wednesday afternoon the 43-year-old former Manchester United winger was backed in from 25/1 to 1/5 with some betting companies to replace the departed David Moyes at the Stadium of Light.
However, sources close to Giggs have said that while the Welshman is ready to talk to clubs about opportunities, he has "categorically received no approach" from the Black Cats.
Sources on Wearside too played down speculation that they were about to make an appointment as books fast approached the point of being closed.