Jamie Reuben has denied contacting Boris Johnson to discuss the failed Newcastle United takeover bid.
It has recently emerged the Prime Minister asked one of his closest aides to check on the progress of the Saudi-led bid for the Magpies last summer.
Despite this request for Lord Udny-Lister - who has since left his post as the Prime Minister's envoy to the Gulf - a Downing Street spokesperson insists there was no demand made to intervene in the process.
The prospective buyers of Amanda Staveley, the Reuben brothers, and Saudi Arabia's Public Investment Fund, all remain committed to the resurrection of a deal.
United owner Mike Ashley is locked in arbitration proceedings with the Premier League following the breakdown of the deal last year.
A Guardian report has named Jamie Reuben as a 'major Conservative Party donor', with the relationship prompting fresh questions over potential Government involvement in the decision-making process.
However, it is an allegation strenuously denied by the takeover consortium member, with Downing Street reiterating the government has 'not been involved at any point'.
A spokesman for the Reuben brothers told the title: “We’re not denying that Jamie has a relationship with Boris Johnson and they talk, but Jamie is quite specific that he hasn’t contacted or talked to him or Lord Lister about the Newcastle deal."
The Guardian reports Downing Street did not answer specific questions regarding contact between the Prime Minister and Reuben.
A spokesperson said: “This was a commercial matter for the parties concerned and the government has not been involved at any point in influencing the Newcastle United takeover talks.”
