The Ghanaian has been in great form for Swansea City this season.
However, despite the reports, Sunderland boss Sam Allardyce is adamant that there has been no bid for Ayew from Sunderland.
He told his press conference this morning that no bid was made for the player and that Sunderland will be unlikely to sign Ayew.
He is reported by Sky Sports to have stated:
"There's been no contact between us and Swansea for us to make an offer.
"We haven't made an offer to them for that, and I don't think Swansea would want to sell him. I think that's a bit of speculation on the media's behalf.
"I can't say any more than that because he's a Swansea player. We are not allowed to speculate any more on that in case we get fined."
This will of course come as a blow to Sunderland fans, who were certainly hopeful of signing the Ghanaian after the frequency of these reports in recent days.
However it seems that Ayew was never anything more of an idea from Allardyce and Sunderland - with a transfer never in the pipeline.
In reality, most Sunderland fans likely knew that Ayew was not heading to the Stadium of Light - but it is still a blow.