Ashley Cole has not had a secret meeting with Chelsea manager Jose Mourinho and chief executive Peter Kenyon last week, the Arsenal defender's agent said.
It was claimed that the alleged meeting took place in a London hotel and contravened Premier League rules.
However Jonathan Barnett, who represents the England star, has dismissed the story.
He said: "Any suggestion that Ashley Cole has spoken to anyone at Chelsea is total and utter nonsense. There is no problem between Ashley and Arsenal. Ashley is extremely happy at Arsenal - he has neither asked for nor considered a move."
Cole, 24, is under contract at Highbury until 2007.