The Red Devils are desperate to sign the England centre-back this summer as Manchester United boss Ole Gunnar Solskjaer looks to bolster his back four.
Reports last week claimed United had agreed a fee with Leicester for Maguire.
However, the Red Devils have told Express Sport a deal isn’t close and a medical isn’t scheduled.
Maguire, who has also been linked with Manchester City, played 45 minutes for Leicester in their pre-season friendly at Scunthorpe on Tuesday night.
And Rodgers discussed Maguire’s future after their 1-0 win, revealing Leicester have already rejected two bids as they don’t need to sell.
“They don’t meet the valuation. If City and Utd are interested, I respect that.
“We don’t have to sell Harry.
“Harry has been absolutely brilliant about this right from the word go. He’s a top, top player and a top guy. I thunk it’s important the supporters know that.
“I’ve been in this situation before with players and it’s not always easy but Harry has been absolutely superb. We’ve had a chat about it, obviously.
“He’s happy and I tip my hat to him for the way he’s dealt with all this because it can be unsettling.
“I’m relaxed about it all. We understand the situation from all points of view because United and City are big clubs, but unless they meet our valuation he won’t be sold and it’s as simple as that.”
Rodgers’s surprised many by including Maguire in the match day squad to face Scunthorpe on Tuesday.
However, the Leicester boss insists it was the defender’s decision to feature in the pre-season friendly.
He added: “It was Harry’s call – he wanted to play, even though he hadn’t been very well.
“That says it all really, he’s a total professional. It was totally his decision.”
Maguire was greeted with ‘Harry Maguire, we want you to stay!’ chants from the Leicester fans during the clash.