"I've not heard a word from Nottingham Forest for three weeks. We've certainly not had a third bid, contrary to other reports," Deepdale chairman Derek Shaw told the Evening Post.
"The bottom line is that we want Paul McKenna to remain at Preston and we don't want to sell him. However, everybody knows how things work in football and situations can change.
"If we have a third bid from Forest then I'll sit down with the directors and the manager and assess that and we'll do what is right for the club."