HULL City have labelled reports suggesting the club was set hand Jimmy Bullard a £2m pay-off as 'ridiculous'.
As reported on Sporthull earlier today, the Daily Mirror claimed the Tigers had been set to strike a deal with the £5m club record signing to end his time at the KC Stadium.
However, head of football operations Adam Pearson today told the Mail such an idea was 'ridiculous'.
"I don't know where that story has come from as we are not in the habit of paying players off.
"We are where we are with Jimmy. He has a contract and we have no intention of paying people off.
"Jimmy is available for transfer or on a season long loan and we have had some interest but nothing further."
Bullard's £45,000 a week wages made him easily the Tigers highest paid player.
It is understood that as of the end of last season, City still had an investment of around £10m outstanding in the player in terms of transfer fee still owed to Fulham, and wages for the next three years of his deal.
Bullard has made just 13 starts and two substitute appearances in his time with the Tigers.
Celtic, West Brom and West Ham have all been reportedly interested in the former Fulham man.