Bennett has been linked with a move to a host of Premier League sides but Fry - who expects to keep hold of his whole squad before the transfer deadline - insists that the only bid he has received was from the Blades.
He told the Peterborough Evening Telegraph: "The only dealings I've had over Ryan are with Sheffield United and Newcastle.
"Kevin Blackwell offered us a million when he was manager at Sheffield United, but we wouldn't even have taken that as a down-payment.
"Newcastle still do have a big interest and have asked us to keep them informed on Ryan.
"He is a player on a long-term four-year contract who is still nowhere near the finished article. He has started the season well and knows he has to keep performing with Gabriel Zakuani breathing down his neck."
Source: PA
