One newspaper speculated this morning that we were set to bid £12 million for the Liverpool striker.
The club put the record straight earlier today - READ THAT STORY HERE - and boss Glenn added his thoughts at his pre-West Brom press conference at Spurs Lodge.
Glenn insisted: "The Heskey story is off the back of the £75m which isn't there for us.
"There hasn't been any contact between us and Liverpool and there won't be, not because I think he's a poor player, but because the economics of it won't happen.
"They won't sell him and we're not looking to buy him. They could have picked any name to go with the story really."
Just to clarify, the £75 facility is to help us build our new Academy and first team training headquarters, redevelopment at the main ground — whether at Tottenham or elsewhere - and to consolidate existing debts.
Even if we wanted to spend the money on players, it would not be possible because of the way the deal is structured. In fact it would be illegal to use the money in this way.
"The £75 million that has been spoken about is simply not for transfers," added Glenn.
"We've said this quite a few times but certain papers have written about there being a pot of gold there for us, but there isn't.
"That money is for the long-term future for the club."
Glenn Hoddle reiterated this afternoon that he has not targeted Emile Heskey - and that the £75m financial facility recently raised is for capital projects, not players.