Bordeaux president Jean-Louis Triaud has denied the club have made contact with Yoann Gourcuff about a potential return.
Gourcuff, 28, emerged as a potential world star as he inspired Bordeaux to the Ligue 1 title in 2008-09 under Laurent Blanc.
He moved to Lyon in a €22 million switch in 2010, but has since been dogged by injury, and with his contract expiring in the summer, is expected to leave the Stade de Gerland.
Triaud told RMC that no moves had been made to bring Gourcuff back to Bordeaux, despite Nicolas de Tavernost -- the president of TV channel M6, which owns the club -- suggesting he would like to see the former AC Milan midfielder return.
"I categorically deny any contact," said Triaud, who was also club president at the time Gourcuff shone in Les Girondins' colours. "I don't want to put the boy in a difficult position. It's not the moment to talk about it."
Gourcuff had been expected to help restore Lyon to the summit of the French game as well as push them to greater heights on the European scene.
However, he has spent more time in the treatment room than on the pitch, and Triaud suggested Gourcuff's well-documented injury problems could be a stumbling block to any potential transfer.
"I like Gourcuff a lot, so don't make me say anything bad about him, but if he comes back to Bordeaux in the same state as he is in at Lyon, he won't contribute much," he said. "We're not second-hand goods dealers, even if he's a boy with a lot of qualities and huge talent."