The story claims that Glenn has made an 'amazing offer' for the 36-year-old, who, having retired in the summer, is technically a free agent and so could be signed after the transfer window closed.
But Paul says: "I am not sure where this story comes from because we have not spoken to Tony about either a coaching or a playing contract.
"A few months ago, just after the start of the season, I was contacted by an agent purporting to be close to Tony, saying that he was considering coming out of retirement and taking up a playing or coaching role.
"I told the agent that if that became a definite decision, to let me know, and I would pass the information on to Glenn.
"That was back in August and I have heard nothing since, so I don't know why this story has surfaced without any foundation whatsoever.
"We are concentrating on these last nine games with the players we have got, and we wish Tony all the best in his future career."