Speculation is rife as to the Ukranian striker's future after reports this morning linked him with Italian giants AC Milan and Lazio.
But boss Glenn insisted this afternoon: "There is bound to be speculation because he is out of the team. I'd expect that.
"But it is a long season and the situation is always likely to change.
"I'm aware of the speculation but I've not heard from Sergei or his agent."
John added: "It's only the usual - people making something out of nothing because Sergei hasn't been in the side lately, he's been substitute, so there is speculation. It's always the way.
"He is very much in our plans. Every game is different and the manager has said that. He's missed the last couple of games and that's where the speculation comes from.
"Just look at Manchester United on Saturday when Solskjaer came on, it's a squad situation now.
"It's hard because players want to play and they should be disappointed if they are not. Sergei wants to be in the team and that's why he's frustrated. Other than that it's just speculation.
"He's a great lad, a professional and we want him here."
Glenn Hoddle and John Gorman have reiterated that Sergei Rebrov remains very much part of the club's plans.