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Sheffield Wednesday chairman Milan Mandaric has told Radio Sheffield there is no truth in rumours claiming that manager Gary Megson has left the club.

The Owls slipped to a third successive league defeat at the weekend leading to speculation in the media and on Twitter on Monday that Megson had left.

But Mandaric told "These rumours are not true.

"Gary is still our manager and we are now preparing for a big game [against Sheffield United] on Sunday."

The Owls, who lost 1-0 at relegation threatened Chesterfield on Saturday, are third in League One, have slipped five points behind the Blades ahead of the Steel City derby, having played two more games.

Former Norwich City, Blackpool, Stockport County, Stoke City, West Bromwich Albion, Nottingham Forest, Leicester City and Bolton Wanderers boss Megson was appointed Wednesday boss replacing Alan Irvine.

Megson, who made 286 appearances as a player in two spells at Hillsborough, was also appointed by Mandaric at Leicester in September 2007 before leaving just six weeks later to return to the Premier League with Bolton.