Peterborough are demanding £3million for Craig Mackail-Smith as a number of Championship clubs chase the striker.
The 26-year-old, who has scored 14 goals this season, has just 10 months remaining on his current deal at London Road.
Leicester have reportedly offered £1.5million, while Millwall and Hull City have also expressed an interest.
However, Posh director of football Barry Fry is ready to hold out for double the amount offered despite the worsening financial situation at the League One club.
He told the Daily Mirror: "We have had lots of enquiries about him and turned down every bid.
"As soon as it gets near our valuation, we will let him talk to the respective club.
"We have asked for £2million and £1million in add-ons, so there's a fair way to go."