Bury chairman Brian Fenton insists there has been no contact between his own club and Rangers following claims the Scottish giants were poised to launch a takeover bid for the npower League One outfit.
National newspaper reports on Thursday morning suggested the Light Blues would look to take up Bury's fixtures in England's third tier next term, continuing to play their home games at Ibrox, before a club statement from the Shakers offered a firm rebuttal.
Despite a takeover by Charles Green's consortium last week Rangers' ongoing financial strife means their Scottish Premier League status remains in severe doubt, but Fenton told Press Association Sport: "There's been no contact whatsoever."
He added: "I got a call off a journalist yesterday asking whether I'd had contact with Rangers regarding investment or a takeover of Bury. At the time I thought it might just die a death as something that was being bandied around the press.
"Then this morning I got a call off one of my fellow directors about it being all over the back page of The Sun and The Mirror. I turned the television on and it was all over Sky Sports."
This led to the swiftly issued statement that Fenton felt was essential to quell speculation and reassure supporters.
"I didn't want anybody thinking that we'd sold them down the river to somebody who's north of the boarder," he said. "Every football club is looking for investment and we wouldn't turn anyone away if they were realistic investors. But this isn't realistic. This is basically, I'm led to believe, a takeover to get into the Football League and take Bury Football Club away from Bury."
It is not the first time suggestions of Rangers or Old Firm rivals Celtic joining English football have come to light, but, with Green waiting to discover whether his newco Rangers will be granted entry into the SPL at a specially convened general meeting on July 4, the talk has rarely come against such an uncertain backdrop.
'Club 12' were included in place of Rangers when Scotland's top flight fixtures were issued on Monday. However, Fenton is not averse to either side joining the Football League, providing they legitimately work their way up the pyramid.
He said: "I think it's been on the cards for quite a while, but if Rangers, Celtic or Hibernian or whoever it is wants to move out of Scotland and play at a higher level, they're going to have to start in League Two and work their way through."