Cellino said that United had tabled a “substantial offer” for the Scotland international.
But the Chronicle understands there has been no bid from Newcastle and United are dismayed by Cellino’s suggestions.
The 27-year-old was on Alan Pardew's hit list, but not now.
Cellino had said: “Newcastle made an offer for McCormack and I said no.
“He is happy to stay here and that made me proud.”
But those claims have been rejected by sources on Tyneside.