Rumours were abound on the Iron-Bru.net messageboard that plans were in place for a move, but Elliott says it is not going to happen in the near future, though the board of directors haven't ruled it out in the long-term.
He told the Scunthorpe Telegraph: "If we had the opportunity to build another new ground, we would embrace it with open arms.
"Times have changed since we moved to Glanford Park in 1988 - and so has the technology.
"You can never say never, but we have had no offers or inquiries."
Elliott did confirm though that improvements are being made to the ground's current facilities.
He added: "At the moment we are looking to spend money on developing facilities, refreshment and toilet facilities, under the Grove Wharf Stand and we are also looking to further expand the Study Support Centre."
The Iron moved to Glanford Park in 1988, at a cost of £2.1 million.