Peterborough boss Darren Ferguson has revealed the club have turned down an offer from an unnamed club for striker Paul Taylor.
The 24-year-old was told he could leave London Road after failing to agree terms on a new contract in April.
But Ferguson has stressed they will not allow Taylor to depart on the cheap.
"We've had a bid for Paul but nowhere near what we require," Ferguson told BBC Radio Cambridgeshire.
"It's not near our valuation so we'll wait and see what happens."