The Seasiders are on the lookout for a new boss after caretaker manager Tony Parkes left the club on Tuesday morning.
Parkes and Steve Thompson had been in charge together following Simon Grayson's departure to Leeds just before Christmas last year, helping the Lancashire outfit avoid relegation from England's second-tier.
Knill's name was immediately linked with the post but, for the meantime at least, the Shakers boss insists there's nothing in it.
He told the club's official website: "All this about Blackpool is just speculation, obviously it's flattering but at the moment it's just speculation. It shows just what we have achieved that if there is interest, it's coming from a club two divisions higher.
"It's good but at the moment it's just speculation and until I hear otherwise I'm getting on with what I'm doing, and that's meeting new players."