Birmingham City manager Gary Rowett has insisted that the club is in a strong position to fend off interest in Demarai Gray this summer.
The Blues turned down a bid of around £5m from fellow Championship side Bournemouth in January, and Rowett believes that there is no financial need to cash in on the teenage winger.
"Things have not changed since January when we turned down what was reportedly £5m for him - or whatever that was," Rowett told the club website.
"Certainly we are in no worse a position now; in fact I think we are in a stronger position now."
Gray has scored six league goals in 38 appearances this season, including a hat-trick against Reading in December.
"I am sure it's going to take a sizeable bid from anyone to prise one of our best young players from the club," Rowett added.
"But as we know there is always going to be that speculation and you are talking about the speculation involving some very big clubs which is a compliment to the ability he has shown over what really is his first full season in professional football."
Arsenal are the latest big club to be linked with a move for the 18-year-old.
Pascal Lemesre
