Chairman Vichai Raksriaksorn and vice-chairman Aiyawatt Raksriaksorn have issued a statement in response to reports former Tottenham boss Redknapp had met club representatives to discuss a possible return to football management at the King Power Stadium.
The statement read: "Given the recent unwarranted and inaccurate speculation in relation to our manager, we wish to set the record straight in the most unequivocal manner.
"Nigel has and continues to retain our total support in helping us to deliver our stated long-term aim of achieving footballing success. Nigel is absolutely key to what we are trying to achieve.
"Our appetite and desire to achieve success with Nigel as our manager remains undiminished."