Dnipro Dnipropetrovsk have reportedly turned down an offer from West Ham United for winger Yevhen Konoplyanka.
The Hammers have been credited with an interest in the Ukrainian for the last few weeks.
The 24-year-old has previously been linked to Tottenham Hotspur and was close to joining Liverpool last January, but a deal could not be struck.
According to Sky Sports News, Dnipro have turned down an offer of £9.5m from West Ham as the club are holding out for a bid in the region of £12m.
Should West Ham meet the offer, Konoplyanka will be the Hammers' second most expensive signing following their £15m capture of Andy Carroll last year.