Football club bosses have denied they are in takeover talks with a multimillionaire benefactor.

The owners of Crawley Town Football Club yesterday quashed rumours that they would offload the club this summer, despite mounting speculation among fans and playing staff.

Many believed a revived bid by Victor Gladwish, the wealthy businessman who has pumped thousands of pounds into a number of football clubs, could be on the cards.

Other possibilities included one of a number of other businessmen who have previously expressed interest in the club tabling a renewed bid.

They included Matthew Pearson, the Scottish soccer schools tycoon, who mounted a failed attempt to buy the club last year or Graham Westley, the former owner of Farnborough Town FC.

But speaking to The Argus yesterday, coowner Chas Majeed, who with his brother Azwar took over the club in 2005, denied receiving any recent takeover approaches and said they did not intend to sell the club at present.

Mr Majeed said: "We have not received any approaches or spoken to anyone about buying the club. It's all just a load of rumours and kids talking. It's rubbish."

The club has also claimed it is likely to be debt-free within days after the final cash payments are made to creditors.

Revenue and Customs and Crawley Borough Council are among those still owed money, thought to be about £300,000 by Crawley Town Football Club.

It has already reduced its original debt of £1.4 million, which plunged the club into administration last year.

A spokesman for administrators Begbies Traynor was unable to confirm the payment plan. But Chas Majeed insisted the outstanding money would be paid "within days" and that the sale of the brothers' other businesses was covering the cost.

The brothers sold their Barcena bar in Burgess Hill last December and are also understood to have sold other premises to cover the debt. But a flat in Brighton valued at more than £1 million, owned by Azwar Majeed, is not being sold.

The pair's bar in central Brighton reopened earlier this month after refurbishment and has changed its name from Saqqara to JaVu. It is also not being sold.

The football club secured continued income on Saturday with the 0-0 draw against Kidderminster Harriers, which averted the threat of relegation.

But playing staff at Crawley Town Football Club remain on tenterhooks after the Majeed brothers confirmed no decisions would be taken about extending playing contracts until next week at the earliest.