Granada Enterprises has denied that it has received a formal bid for sponsorship of ITV's broadcasts of the football World Cup in Japan and Korea from American brewing giant Budweiser.
The sales house said that it is currently in negotiations with a number of brands after receiving no firm bids from the main event sponsors.
Under FIFA rules, ITV is contracted to offer the TV sponsorship of the tournament to event sponsors before opening it up to other brands.
The deadline for bids was March 1 but none of the event sponsors - which include Coca-Cola, Budweiser, McDonald's Adidas, Mastercard and Yahoo! - have submitted a bid.
Granada is asking in the region of £4m for sponsorship of its coverage of the World Cup, which takes place in Japan and Korea in June.
Sponsorship and licensing director Martin Lowde has sent letters to a number of advertisers and is currently speaking to potential sponsors.
A spokesperson for Granada said: "We're in negotiations with a number of brands and a few possibilities are looking quite positive."
She said that the process may end in sealed bidding but added that the company was not putting a time limit, at this stage, on making a decision.