Manchester City on Saturday quashed speculation that they are in talks over the acquisition of a Major League Soccer franchise in the United States.
The English champions were reportedly close to being awarded a franchise that would be based in the Queens district of New York.
Rumours suggested former England captain David Beckham had been contacted to play a role with the new outfit, which was to be named New York City Football Club.
Further reports said the franchise would cost City owner Sheikh Mansour in the region of £100 million ($161.7 million, 122.8 million euros), but club officials said there was no truth to the story.
"Manchester City are not buying an MLS club," said City in a brief statement.
City on Friday reported annual losses of £97.9 million, despite increased turnover of £231.1million.
New York already has one MLS team, the New York Red Bulls, but a second franchise is scheduled to be based in Queens, near the site of US Open tennis venue Flushing Meadow.