The England Under-21 international fired home 29 goals last term and wants to help the ambitious Robins reach the Championship this season.
The 20-year-old said: "I don't take any notice of transfer rumours.
"I am a Bristol City player and that's how I expect it to stay.
"I expect to be here when the season starts and all my focus is on getting a good pre-season under my belt.
"Having a player of Marcus's experience here will be a help to all the players and I want to learn from him.
"I'm sure I could play alongside him. He has great touch and the knowledge that comes from playing at top level."