Alex McLeish insists he has had no contact from Rangers after one bookmaker suspended betting on him being named manager.
Scottish league sponsor Ladbrokes closed its book on the Ibrox vacancy after favourite McLeish attracted more bets in the wake of Rangers' defeat by Dundee on Friday.
But McLeish told The Scottsh Sun: "I would like it to be known that there has been no contact from anyone at Rangers and it's important that the speculation is put to rest."
McLeish has been the favourite with several bookmakers even before Aberdeen boss Derek McInnes insisted he was staying at Pittodrie last week amid ongoing speculation linking him with a return to Ibrox.
Rangers sacked Pedro Caixinha more than a month ago and have lost their last two games under caretaker boss Graeme Murty.
McLeish was interviewed for the job before Caixinha was appointed in March but lost out and later expressed reservations about some issues which came up in talks with the club.
The former Scotland manager won seven trophies during four-and-a-half years as Rangers manager from December 2001, including two titles. His most recent managerial job was a short stint at Egyptian side Zamalek early last year.
Rangers face a Premiership double header with Aberdeen this week, hosting the Dons on Wednesday before travelling north for a Sunday meeting.