Ashley had quoted American private equity fund InterMedia Partners a price to buy him out ... but the Toon boss says it never happened!
Although it is understood there has been contact on an informal level between the two parties, the club was swift to deny that a valuation which would trigger a sale had been set.
The billionaire businessman launched his £134.4million takeover last summer after former chairman Freddy Shepherd had fought off a series of approaches, with US hedge fund Polygon and the Jersey-based Belgravia Group having declared their interest.
Chris Mort, the man he eventually installed as Shepherd's replacement, has bailed out this summer and there has been unrest behind the scenes at St James' Park suggesting Ashley was looking for a buyer.
However, despite repeated assurances that Ashley is not looking to make a quick profit and then get out, rumours have persisted that the club is for sale at the right price.
Mort's replacement, managing director Derek Llambias, is overseas on club business and many reporters have linked that with a sell-out.
Ashley's Sports Direct International business is enduring testing times, and the speculation of him selling NUFC is refusing to go away.