The pair are currently active members of the board of Eredivisie giants Ajax, but the 64-year-old was reported to have stated that Davids was included because he was black.
Davids revealed the supposed slight on Dutch television show Studio Voetbal on Sunday.
“Sometimes people cross the line within the supervisory board. There have even been racist comments. I don’t want to go into details,” he said.
Fellow board member Steven ten Have revealed on Monday that Davids was talking about Cruyff in particular, but the ex-Barcelona player and coach has come out and defended himself strongly, pinpointed the work he does on behalf of disabled and underprivileged youngsters.
“My foundation now has some 120 football pitches laid out for children, a lot of them immigrants,” Cruyff is quoted as saying in The Guardian.
“We live in a multicultural society. They discredit themselves with this. I have a broad back … It is really too much to respond,” he stated.
Ajax have refused to comment on the incident, the latest discrediting story about racism in the highest level of the sport.
Cruyff’s position on the Dutch champions’ board is under scrutiny, as Louis van Gaal’s recent appointment as chief executive is reported to have happened without his knowledge or consent.
By Gareth McKnight