Derby sacked Phil Brown last week and have been alerted by City's approach to the fact that Blackwell is out of contract this summer.
But Leeds officials today dismissed any suggestion that Derby had made an approach, with sources in the East Midlands claiming County are keen on Blackwell and are considering making a move.
Leeds are keen to avoid any speculation about Blackwell's future for fear of de-stabilising their push for promotion this season.
The Whites next opponents are Derby at Pride Park this Saturday.