Karl-Heinz Rummenigge suggested Bayern Munich could take legal action after a report in Der Spiegel alleged he and the club attempted to lead some of Europe's biggest clubs into a breakaway 'Super League'.
The German magazine's allegation is based on documents it claims to have attained from whistleblowers 'Football Leaks'. Both the club and their chairman issued a strenuous denial on Friday.
Der Spiegel reported that Bayern and Rummenigge were major players in attempting to formulate the new competition, naming Manchester United, Manchester City, Chelsea, Arsenal, Liverpool, Real Madrid, Barcelona and Juventus among the 11 clubs they were purportedly hoping to lead away.
Any such move could doom UEFA's Champions League and impact the respective clubs' domestic competitions.
Ahead of Bayern's 1-1 draw with Freiburg on Saturday, Rummenigge insisted the club remains committed to the Bundesliga and will hold discussions over legal options internally.
"I am confused about the coverage. The fact is, no European club has every approached the topic of a Super League," he told Sky.
"We completely stand by our membership in the Bundesliga, as well as in UEFA and the European competitions they organise.
"We have never questioned that. We will check this over the next few days with our lawyers.
"I can only say the whole article has a tabloid style, containing half-truths and untruths, which do not correspond to the facts."
Some Bayern supporters showed their desire to remain in Germany's top flight during Saturday's match at the Allianz Arena with one banner stating: "We stand for the Bundesliga – Super League without us."
A sign in the south stand of the stadium read: "Never again German champion FCB? No more 'honest titles'…"
