His homeland club, Chacarita, had, according to their director of football Carlos Bueno, received a firm bid for him, and was quoted as saying on the radio that 'it was far below the amount we think Delgado can be worth.'
But Glenn insists: "We have no cash so it is completely untrue to say we made an offer - and I am very disappointed to hear stories from Argentina saying we did.
"We have it on record that what we did was send a letter asking for the young lad, who we feel is a decent prospect, to be allowed to come and have a test for a week.
"It is as simple as that - asking for one week's test, that's all it was - but his club has used that letter as an offer.
"Well, something has gone awry in the translation."
Meanwhile, Glenn is delighted that West Ham's youngsters won so comprehensively against Fulham in the FA Youth Cup at Upton Park on Tuesday.
A 6-1 win followed on from a 4-1 victory over Oadby Town in the previous round, and next up are Norwich City on Wednesday, February 5, at 7pm - although that game is likely to be rearranged if West Ham are involved in an FA Cup replay against Manchester United that night.
Of the win over Fulham, Glenn says: "It was a great result. I was there to see them play, and we certainly couldn't have asked any more from them.
"There was some excellent crossing and some excellent finishing - that was the feature of the game for me."