Danny Crow had been linked with a move to Gresty Road after the Crewe management team said they were targeting a lower league striker.
Barry Fry told www.peterborughtoday.co.uk "We get inquiries for our players all the time, but we are no longer a selling club. That won't change unless we get a ridiculous offer for someone.
"I have had no contact with Crewe about Danny Crow and our manager is not actively seeking new players even though he has a chairman who will back him to the hilt.
"I don't expect that position to change before the weekend, although you never know in football."
Crow had been on the transfer list last season but seemed to have knuckled down during the summer and impressed Posh manager Darren Ferguson that the player came off the list.