The Lane legend admitted he was deeply upset when he read articles suggesting he'd said that the club is 'going backwards' under Glenn Hoddle.
He stressed "The story has come out with me attacking the club and the comments attributed to me suggest we've gone backwards under Glenn Hoddle, I certainly didn't say that.
"It also says in the piece that I 'look on in despair', which is wrong.
It does say that I believe there is a gulf between ourselves and the likes of Manchester United and Arsenal, which is fair enough, I do believe that.
"I did say that at the start of the season from the players, management and supporters point of view that our requirement was to make Europe and to try and close the gap on Arsenal.
"That hasn't happened and of course Glenn and everyone involved at the club is disappointed in that.
"But the way the story was portrayed was very misleading and I was very disappointed when I read the story."
Gary Mabbutt has moved quickly to set the record straight on comments attributed to him in this morning's newspapers.