"It's total rubbish," he said, "and the reports that we have given Georgi a massive wage rise to keep him happy is again utter rubbish."
Lee insists that the brilliant Georgian midfielder has just signed a three-year contract.
Another overseas midfielder staying put at another struggling Premiership club is the Serb Sasa Curcic, who has pledged his future to Bolton.
"They gave me the opportunity to play here and I am determined to repay that both to the club and to the supporters," said Curcic, who cost Bolton a club record pounds 1.5m from Partizan Belgrade.
Brian Laws, the Grimsby manager, is to seek a personal hearing after being charged with misconduct by the Football Association over the Ivano Bonetti affair.
"It is about time the truth was told," said Laws, who was charged after a lengthy FA investigation into events in his team's dressing-room when Bonetti fractured his jaw.
Everton's transfer-listed defender Matt Jackson has joined Charlton on a month's loan. Surgery on a groin strain will deny Sunderland the services of the striker Phil Gray for the rest of the season.
Scotland Under-21, who trailed 2-1 after the first leg, conjured a remarkable victory over Hungary last night to reach the last four of the European Championship 4-3 on aggregate. After falling behind to an early goal at Easter Road, Christian Dailly levelled the score on the night, before two goals in the last six minutes by Jim Hamilton and Simon Donnelly steered Scotland through.
Cissie Charlton, mother of the England footballing brothers, Sir Bobby and Jackie, has died, aged 84.
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