The move has come following speculation originating from English tabloid The Sun claiming that Liverpool's American owners George Gillett and Tom Hicks are currently in discussions with Nasser Al-Kharafi regarding a potential mega-money takeover.
"We have not conducted any negotiations," insisted Jassem al-Kharafi, elder brother of the Group's chairman Nasser al-Kharafi.
"The Group has no plans to buy any sports club."
Kharafi Group vice president Loay al-Kharafi underscored the statement released to the press by insisting that the reports emanating from the British press are "not correct."
Al-Kharafi, ranked as the 46th richest man in the world, was linked with a takeover at Newcastle United last October, and his cousin held buy-out talks with Hicks earlier in the year.