Audio By Carbonatix
Arsenal owners Stan Kroenke and Josh Kroenke say they remain "100% committed" to the Premier League club and "are not selling any stake".
Arsenal legends Thierry Henry, Dennis Bergkamp and Patrick Vieira have joined Spotify founder and billionaire Daniel Ek's bid to buy the club.
More than 1,000 fans protested against the current owners on Friday.
"We have not received any offer and we will not entertain any offer," the Gunners owners said.
"Our ambition for Arsenal remains to compete to win the biggest trophies in the game and our focus remains on improving our competitiveness on the pitch to achieve this."
The fan protest outside Emirates Stadium prior to Arsenal's home defeat by Everton followed the club's involvement in the proposed European Super League (ESL).
The Gunners were one of 12 founding members of the league but they withdrew just 48 hours later and apologised to fans.
Stan Kroenke is a 73-year-old American owner of numerous sports franchises, including NFL side the Los Angeles Rams and NBA team the Denver Nuggets.
He took a 9.9% stake in Arsenal in 2007 and slowly built up his shareholding until it reached 62.89% in April 2011.
Kroenke's son, Josh, is a director at the club and heavily involved in its day-to-day operations.
Swedish businessman Ek, 38, worth a reported $4.7bn (£3.38bn) tweeted that he would be "happy to throw my hat in the ring" if Kroenke Sports Enterprises (KSE) wanted to sell.
Arsenal are 10th in the Premier League with five games left to play in Mikel Arteta's first full season as manager.
Latest Stories
-
Accra Brewery may shut down operations over revised excise duty
9 minutes -
Why I always play witch, wicked roles in Nollywood movies – Patience Ozokwor
18 minutes -
It is worrying to say that vacation courts do not conduct trials – Young Lawyers Forum President
27 minutes -
Global youth unemployment rises amid sluggish job creation and looming AI risk, UN labour agency says
44 minutes -
Dangote refinery spurs West Africa fuel trading hub ambitions
55 minutes -
New transmission from animals likely caused Congo-Uganda Ebola outbreak, study says
1 hour -
Legal vacation trials: Chief Justice has power to order specific cases heard – Young Lawyers Forum President
1 hour -
Oil rises as doubts over US-Iran deal heighten supply concerns
2 hours -
Nigeria police say 10 officers, 17 suspected bandits killed in clash in Kebbi state
2 hours -
Vacation courts can handle substantive matters – Young Lawyers Forum challenges GBA position
2 hours -
Oil, gold prices rise as geopolitical tensions mount before CPI
2 hours -
Congo says number of confirmed Ebola cases rises to 4,449
2 hours -
Trump says he switched planes after Nato summit because of possible threat
2 hours -
Ghana’s exports surpass imports after two decades of trade imbalances
2 hours -
Gold concentration exposes Ghana to export risks – GSS
3 hours