Speculation has been rife that the stand-off would be moving to Scotland on a lucrative contract.
But Rennie says that is not the case.
Cruden, 30, has endured an injury-disrupted season with Montpellier in the French Top 14.
He was part of New Zealand’s 2011 Rugby World Cup winning side and has been capped 50 times by the All Blacks.
Rennie and Cruden have a close relationship after working together at the Chiefs in New Zealand.