Irma Nici, 26, claims in US magazine In Touch she had sex with the footballer 5 times in 2007.
David, 35 - who has been married to wife Victoria, 36, for 11 years - plans to launch legal action.
'[The allegations] are completely untrue and totally ridiculous, as the magazine was clearly told before publication,' a rep tells Us Weekly.
'Sadly we live in a world where a magazine can print lies and believe they can get away with it.
'We are taking legal action against the magazine.'