Terry, 28, has responded to persistent reports linking him with a transfer by releasing a statement on the club's official Web site in which he insists he has never contemplated leaving the London side.
"While their proposals will not bind any party we hope their guidance will provide us with viable options for consideration in our pursuit of a solution to the unacceptable transfer stalemate, " the statement continued.
"Set against this backdrop, it comes as no surprise, that the Ospreys agreed with Marshall to examine the opportunity for an early release and jointly identify a suitable team in Europe as the target for the transfer, " said a statement from the region.