One newspaper claimed just that, suggesting - wrongly - that the money was needed to finance the building work at Upton Park.
But the player himself insists there was no knock on the door when the Hammers entertained Liverpool at the weekend, and he smiles:
"Not that I'm aware of, anyway!
"It happens all the time but I always get asked that question and it is the same answer - it is a load of rubbish."
And he insists that West Ham's recent form could mean players arriving at, rather than leaving West Ham.
"If we keep going forward we are going to attract other players to the club as well," he says.
"You need to build on the squad, and if you can attract big players and big stars to the club as well it couldn't be better.
"I'm definitely happy here; we are playing well and things seem to be moving forward."
But he is keeping his feet on the ground and says that thoughts of Europe are premature.
"We haven't really thought about anything like that," he says.
"We are concentrating on getting to the top half, and if we do get there we want to stay there.
"Who knows after that - you can push on again but our goal at the minute is to try to get a few wins together and get in the top half."
Of the draw against Liverpool, he says:
"It probably should have been three points but if you had asked before the game we might have settled for a point.
"Although we were a little bit disappointed you have to take all the points you can get because they all build up.
"Their keeper has pulled off some great saves, especially from Jermain, and he has been the difference.
"He put one of mine round the post and it was one of those days; we had so many chances and we could have been two or three up to give us a little cushion.
"But we were up against it in the second half and they had quality players to bring in like Stevie G and Owen, and that makes it harder.
"They had five playing up front but it's the way it goes; they scored late and maybe it was a lucky goal for them, but we have got to get on with our unbeaten run, which is now six, and keep the consistency.
"It is a big boost for them to bring them in and when you see them coming on you are obviously aware of them, because you know what they can do and they are a great danger, which Mickey showed.
"Twice now he has killed us this season, but that is what he is all about and why he is worth all that money."
Michael says the recent midfield reshuffle has benefited his game, and he adds:
"I think it is good that we have been playing quite well; it has come together and we are going in the right direction.
"Funnily enough the little run has come around since we came together in the midfield; Trev's flying on the left, and this is the best Hutch has been playing since he has been at the club, with everyone playing well around him."
He says the tender years of him and Joe Cole in centre midfield should not be a sticking point and adds:
"To be honest I don't think it has shown in the last couple of weeks, because we have been playing probably at the top of our game."
Michael is loathe to compare Michael Owen with Jermain Defoe, who made his first start alongside Fredi Kanoute as a strike partnership on Saturday, but adds:
"It is hard to compare because I didn't really see him at that age, but from what he has been showing lately he can't be far behind."
Next up are Liverpool's title rivals Leeds, and Michael says that their bigger squad, like Liverpool's, could be a stumbling block.
"That's the main problem," he admits, "because you look at Liverpool the other day and he rested a couple.
"Okay, it didn't work and he had to bring them on, but obviously our gaffer can't do that."
Michael has played in all but one of West Ham's games in the Premiership this season but insists:
"I feel alright; you take a few knocks and bumps but you get on with it - you want to be playing games rather than training, and I don't mind it."
As for Leeds away, he says:
"We're full of confidence at the minute as we showed on Saturday; I don't see why we can't get a result, as long as we play well, as we have been away lately."
But he still does not feel that the title will be going to Elland Road - or Merseyside - this season, and he says:
"I don't think you can look past Man U to be honest; I said that a couple of weeks ago when they had a bit of a blip and I still think it."