Speculation on Monday suggested Mandaric had made an attractive offer to Holloway, who has guided the Pilgrims to seventh spot in the Championship this season.

Mandaric is looking for his third manager of the campaign, having parted company with Martin Allen before seeing his replacement Gary Megson take the Bolton job instead.

The Serbian business tycoon has arrived back in the UK from a trip to California in a bid to have a new boss in place at the Walkers Stadium before Saturday's trip to Bristol City.

But he has denied any approach to Argyle over Holloway, having been quoted in the Plymouth Evening Herald as saying: "There is no truth in the rumour. I haven't contacted Plymouth and he hasn't been in my thoughts about getting the job."

Home Park chairman Paul Stapleton added: "There is no truth it. I spoke to Ian at lunchtime today about loan transfers and contract talks for other players."