The Rangers star was said to be a leading target for the former Celtic boss as he looks to reshape his side this summer.
Rodgers joined Leicester late last month as he made a swift exit from Parkhead having won seven domestic trophies out of seven during his time in Scottish football.
It had been said he was considering a switch for the Colombian, who is the current top goalscorer in the Ladbrokes Premiership.
However, Rodgers chose to pour cold water on the rumours when quizzed about them on Thursday afternoon.
He said: “I think someone is trying to wind someone up. I never will comment on speculation of any player.
“My focus is on the group we have now, whether we can focus and get better as a group and then with the summer, we will look to strengthen and improve then.
“We understand where the team needs improving and we’ll look at the squad over the remainder of the season to see.”