Larsson is out of contract at the end of the season and talks regarding an new deal are ongoing.
“I wouldn’t consider it unless it was a ridiculous offer,” said McLeish. “I would certainly not contemplate it.”
Larsson will be able to speak to foreign clubs in the New Year.
McLeish said: “English clubs can’t court him in that period, and if they do then they are breaking the rules.”
“I think the club are talking to Seb and his agent,” he added. “There’s an offer being made over the next couple of weeks.
“We want Seb to stay, no doubt about it, but at the end of the day it’ll be up to the player himself.”