Boss Alan Pardew has quashed those rumours and has stated that Reid's future lies in SE7.
Pardew said: "I've certainly got an agreement with Andy Reid that he will stay here a year and one of the reasons I gave him the captaincy was to have that promise from him.
"I think he is an honourable person and I've got nothing written down and don't need anything in terms of a contract for that.
"He's made me that promise and I've promised him I'm going to look after him and make sure he plays.
"We're very much getting the best out of him at the minute and I hope that continues. He really is in good form and is a great player."