Ashley has just recently sold the Magpies to a consortium backed by Saudi Arabia's Public Investment Fund (PIF) and it had been suggested that Ashley had been looking to buy into Derby who have recently gone into administration.
But, Andrew Hosking, who is managing director at Quantuma and joint administrator of Derby County, says he's not been in touch.
He said: "We can confirm we have neither been approached by nor have we entered into dialogue with Mike Ashley.
"As this is an ongoing process, we are unable to comment on the names of the individuals and organisations that have met this criteria at this time.
"Of those who have returned a signed non-disclosure agreement (NDA), several have been able to provide the necessary proof of funds we have requested to be considered as a serious bidder."
Hosking also spoke about Derby's appeal against their 12-point deduction which was imposed by the English Football League for their decision to officially enter administration on 22 September.
"I can confirm that an appeal was lodged against the 12-point deduction imposed.
"As a consequence, this matter has been referred to an independent arbitration panel who will consider representations from both parties before making a determination.
"At this current time, the club's points total in the Championship table will remain unchanged."
Derby's manager is former England and Manchester United striker Wayne Rooney, and he said he won't be walking away from his role despite the club going into administration.
He said: "I have said before that I am committed to this club and this group of players.
"I love working with them.
"I’m committed to the staff and I care about them.
"I’ll do all I can to get us through.
"We will get through it for the better though there are tough times ahead in the near future."