Following reports that Jol had already quit, arranged a £4m pay-off and was even managing on a match-by-match basis, Levy has acted to put an end to the stories.
The club yesterday denied there was an emergency board meeting to discuss Jol's successor but Levy has today taken the unprecedented step of putting the blame for all the speculation purely on the media.
He said: "There has been no board meeting, let alone any emergency board meeting, and reports that we have agreed a compensation package with Martin are wholly inaccurate - we have not even discussed the subject and there is no reason to do so.
"We will not allow ourselves to be side-tracked or undermined by external agendas or media hype. Our focus is on winning games."