Arsenal manager Arsene Wenger cannot see his club sharing their ground with North London rivals Tottenham.
Spurs are looking at options for a temporary home for a season from 2017 while the building of their new stadium is being completed.
But Wenger thinks the prospect of sharing the Emirates would be unlikely.
"Geographically it is a solution but we understand as well that it is a very sensitive subject and I don't think that will happen," said the long-time Arsenal manager.
Some of the grounds Tottenham are said to have been considering include MK Dons' ground mk:stadium and Wembley, although the latter appears unlikely.
Tottenham have denied newspaper reports that the club is subject to a £1 billion takeover.
It was suggested that owner Joe Lewis was prepared to sell.
But a short statement on its official website says "the focus of the club is fully on delivering the new stadium".