Wigan Athletic chairman Dave Whelan has confirmed Leicester City are keen on midfielder James McArthur, but admits they must up their offer if they are to prise the Scotland international from the DW Stadium.
The 26-year-old has become a target for last season's Sky Bet Championship champions, who have thus been frustrated in their efforts to bring former Inter Milan midfielder Esteban Cambiasso to the east Midlands.
With Cambiasso's move proving complicated, Leicester have made an offer for McArthur which was turned down by Latics on Tuesday.
"We received a bid from Leicester and we've given them our reply this morning - he's not for sale at that price," Whelan told the Daily Telegraph.
"Our number-one priority is the club, the second is the player, and we always look at things in that order.
"I wouldn't stand in the way of anybody wanting to playing in the Premier League, though, so we'll see how much Leicester want him."
That will test the resolve of Foxes boss Nigel Pearson, who had this week insisted the club would not be paying over the odds for transfer targets.
"It's proven to be more difficult this window," he said.
"There is a possibility of inflating prices because there is a need for it but my recommendation on it is 'don't do it'.
"We've had our fingers burnt in the past with doing deals late in the window.
"I recognise we need one or two extra players but I'm certainly not going to be held to ransom. My advice to the football club is if we can't get the people we want, I don't want to pad it out with players who are not the right fit or not good enough."
McArthur, who is also interesting Sean Dyche's Burnley, joined Wigan in 2010 and has played well over 100 times for them.