Di Alessio, was reported to have agreed on a move to North London for a fee in the region of $2 million (around £1.34 million), as he is said to be contemplating ending his spell with his club Lanus.
The 25-year-old di Alessio was quoted as saying: "Everything happened very quickly. I am extremely delighted. If I pass the medical tests, I will stay there.
"I have already agreed the economic part - they are also giving me a house and a car. It is a great opportunity and I do not plan to waste it, although I was not desperate to leave."
However, David Pleat insists that this story is a non-runner.
"No-one from our scouting staff has been to Argentina in the last two months," confirms Pleat. "Although we are aware of this club and a couple of their players have come under scrutiny we have not looked at this player.
"This story is a false."
Director of football David Pleat has shot down rumours linking us with Argentinean midfielder Juan Fernandez di Alessio.