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Published 12:12 6 Jan 2016 GMT
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El Pais journalist Diego Torres had written that Neville's appointment was orchestrated by super-agent Jorge Mendes and former Manchester United CEO Peter Kenyon, but that predecessor Nuno Espirito Santo continues to monitor the club's training sessions.
'This time [Valencia owner Peter] Lim asked [Mendes] to look for a substitute. On one condition: that was not his client,' Torres wrote.
'Mendes would call his partner Peter Kenyon to ask a favour. And Kenyon called Neville.'
Neville, who is still chasing the first league victory of his tenure addressed the comments in a press conference ahead of Valencia's meeting with Granada.
"Is the journalist in here? No? I've never heard anything so ludicrous in my life," he said.
"It's a fantasy story with absolutely no truth whatsoever."
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