Speaking to TV3 (h/t Fay), the City boss denied the suggestions made by the Ivory Coast worldwide.
Guardiola has now responded to the comments from his former player, telling Catalan television station TV3 in quotes reported by the Spanish press: "It's a lie and he knows it".
The duo have worked together at City for the past two years, following a previous two year spell at Barcelona.
Ivorian global midfielder Toure had told France Football magazine earlier this week that he had questioned whether his skin "colour" had contributed to him being little used by Guardiola during City's record breaking run to the Premier League title last season. I don't know why but I have the impression that he was jealous, he took me for a rival.
Justin Trudeau: We won't be pushed around by Trump
President Donald Trump meets with Canadian Prime Minister Justin Trudeau during the G-7 summit on Friday in Charlevoix, Canada . Roughly 28,000 American service members and civilian military personnel are now stationed in South Korea.
'But the day he will line up a team in which we find five Africans, not naturalised, I promise I will send him a cake'. "We were together two years and now is when he says it". He never told me face to face'.
"My time there as a coach is finished because I'm not the same as I was then, nor is the way they see me the same", Guardiola added. "I was at a fantastic age in which I was taking on the world". It was a generation of brutal players and the best player in the world [Lionel Messi].
"I even asked coaches for my stats".
Michael Carrick was also named among the players released, as the Man United midfielder will retire and join Jose Mourinho's coaching staff next season.