George Gillett believes Liverpool are in a sound position to ride out current financial problems but refused to comment on whether the club is up for sale.
There had been speculation that Gillett and co-owner Tom Hicks were ready to sell their stake at Anfield with the investment bank Merrill Lynch believed to have been contacted to find a buyer for the club.
Gillett said: "With regard to what we're doing we would not have any comment on that - there has already been enough speculation on that."
Gillett is confident Liverpool - and Premier League clubs overall - are in a good financial position despite large debts they have to survive in testing economic times.
"I don't know all of the facts. What I read is not in the newspapers because it is an unreliable source - what I am looking at are other financial filings which I think are more reliable," Gillett said.
"There are certain sports which have felt the impact. It's a good time to be cautious but it's a bit early to write the obituary of professional sports."
Gillett also admitted that plans for a new stadium have not been shelved permanently and revealed his relationship with the fans has improved.
"There are some of things which have happened which have upset the fans and got them mad at Tom and myself," Gillett told Toronto Sport's Radio.
"At this point, based on the media that we are seeing and an awful lot of the fan communication, I think they are at a point now where they are allowing the boys to demonstrate their skill.
"And also to allow Rafael Benitez - who is one of the great coaches - to do his thing and we just want to leave it that way and we will operate behind the scenes and let the club do the talking."
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