Tranmere responded to speculation they will become a feeder club for Liverpool as part of the takeover of their illustrious neighbours by the Dubai International Capital group.
The Wirral club have clarified their position in light of developments across the Mersey as the consortium, led by Sheikh Mohammed bin Rashid al-Maktoum, continue negotiations for £450 million takeover at Anfield.
Reports had been circulating that Tranmere had been earmarked as a possible nursery club for Liverpool's talent, enabling some of the younger academy play-ers to get first-team experience at Prenton Park.
But a statement from Tranmere said: "With regard to feeder clubs, Tranmere Rovers feel it is essential that the club has its own identity.
"The club is very proud of its history and identity and has a special relationship with the people of Wirral. Furthermore, feeder clubs or nursery clubs are not permitted under Football League rules."
The club have not ruled out some form of new investment, however.
"Like most clubs in the Premiership and the Football League, we would welcome new investment from a credible interested party and therefore would always be prepared to enter into discussions," the statement continued.
Dr Rory Miller, who lectures in Football and Business at Liverpool University, said there was unlikely to be any formal arrangement between Liverpool and Tranmere.
He said: "Liverpool previously had an informal agreement with Crewe in terms of sharing players and the Tranmere link is maybe something along the same lines.
"There are often informal arrangements between clubs but because of league rules they rarely amount to much."
Dr Miller though admitted that an agreement with a foreign team is a possibility for the Reds.
He said: "It is more likely that a possible feeder club will be abroad. For example. Arsenal have an arrangement with Beveren and Manchester United with Royal Antwerp." n Dundee United manager Craig Levein concedes the chances of Steven Pressley joining the club are limited.
The Scotland international reached an "amicable agreement" to leave Tynecastle at the weekend following his public criticism of the regime of majority shareholder Vladimir Romanov in October.
The 33-year-old former Coventry City defender has reportedly spoken with Celtic manager Gordon Strachan, while Southampton boss George Burley has also expressed his interest.
But, after meeting with the defender on Monday, the Tannadice boss believes a return to United for the defender is unlikely. Levein said: "I spoke to Steven and he knows I want to sign him, but he has other offers to consider and I would say we are well down the pecking order."