Avon and Somerset Police Inspector Paul Winship dismissed the suggestion that a police vehicle may have been in pursuit of the BMW as it crashed through iron railings in Bristol city centre into the river.
"I can confirm this was a straightforward accident involving a single car going off the road," he said. "It was not a pursuit, and so the Independent Police Complaints Commission has not been informed."
More top news
Organisers said five people were taken to hospital including a 12-year-old boy and an 83-year-old man.
Blue has spent 300 days waiting for a new owner.
The band played at a concert in Montana on Monday aimed to encourage young people to vote in November’s mid-term elections.