The news broke early on Wednesday morning that the Team of Choice board members were considering selling to Sekhukhune-based businessmen.
However, Kadodia was quick to dismiss those reports and believes they were manifested to disrupt the team's preparations ahead of their upcoming Telkom Knockout clash against Moroka Swallows, as well as the following PSL ties against leaders Kaizer Chiefs and high flying Bloemfontein Celtic.
He said: "There is absolutely no truth in this. The first time I heard of this was when I was contacted by a reporter this morning to confirm this story.
"It is disappointing that rumours like these surface at such a crucial time, with the huge investment made into the team and the good start to season, this seems just to be forces looking to destabilise the club ahead of our three huge upcoming fixtures.
"These irresponsible rumours devalue the brand which we are working so tirelessly to grow and I want to re-iterate to our fans, sponsors and partners that after refusing to relocate to the Nelson Mandela Bay Stadium the Board of Directors made a firm commitment to ensure that the club will remain in Pietermaritzburg and look to grow from strength to strength in the 'City of Choice'."