Michael Owen has no intention of retiring from football at the end of the season, according to his management company.
A report has claimed the Newcastle and England striker will become a full-time racehorse trainer and owner after quitting the game in the summer.
However, amid reports Owen has become increasingly disillusioned with life on Tyneside and his own diminishing returns after years of injury problems, his representatives insist he is determined to get back to the levels that saw him crowned European Footballer of the Year in 2001.
"Any suggestion or unfounded speculation that Michael Owen has any intention of quitting football is totally untrue and wrong,'' read a statement from Wasserman Media Group.
"Michael remains as committed to his football career as he ever has been and is deeply and professionally offended that anyone should suggest otherwise.''
It continued: "Michael Owen has instructed lawyers this evening and will take action against any publication which he feels inaccurately or unfairly suggested he is quitting football and is damaging to his professional reputation.''
The 29-year-old joined Newcastle from Real Madrid in 2005 for a club-record fee of £17million.
However, in the very nearly four seasons since then he has made only 58 Premier League starts due to a succession of fitness problems.
Owen, who began his career with a hugely successful spell at Liverpool, has also been left in the international wilderness under England coach Fabio Capello.
In total, Owen has 40 goals from 89 England caps but has not played for the national team since the friendly defeat in France in March 2008.