Ian Holloway has suggested coveted playmaker Charlie Adam could be worth £46million due to what Blackpool will earn should they avoid relegation.
The Scottish international has been linked with a host of clubs in recent weeks, with Aston Villa making bids of £2.5million and £3.5million.
The Blackpool boss has branded these offers as "derisory" for a player with 18 months left on his contract, given Villa recently forked out a record £18million - rising to £24million - for Sunderland striker Darren Bent.
Asked what he thought a realistic valuation would be for Adam, Holloway told Sky Sports News: "I don't know - £46million? - because if we stay up that's what we'll get. How important is he to us?
"So, what's realistic to you? The fact that we might get £90m already and then we can get another 46?
"I'm just looking at the business side of things thinking 'well hang on a minute, aren't we doing well'.
"Charlie might look at himself, but I still think he's doing well. He's playing for a team that's really good, expected nothing, he's passing it, it suits him, the lads like him, the fans like him, so good luck and well done.
"Obviously Aston Villa are a massive club, but how can they rate Darren Bent at that sort of figure and offer me that for Charlie?"
"I think it is quite derisory."
Asked if he definitely would not be selling Adam in January, Holloway said: "No - why should I?
"The thing is, if someone offered the 'right' amount of money, which would be fair in terms of the market value of Charlie, how do I work out what that market value is when clubs are paying absolutely ludicrous amounts of money for people I don't see as being as good as Charlie?
"I had a contract (as manager) at Plymouth, I left it and I won't do that again - I learned from making that mistake.
"Charlie has signed a contract and someone can come in all they like, but it's not his choice and it's not their choice. He belongs to us and he is contracted for 18 months.
"You have to behave with respect and not all players do that sometimes, but that is the way the game is.
"I think he is still improving, I think he belongs to us and if someone wants to offer money, I think they are wasting their time because we don't need to sell him at the moment."
Adam has spoken of his ambition to play at the highest level, but for the time being at least Holloway is prepared to play hardball with the Scotland international.
"In our contracts you can terminate them and walk out on them, like I did, and I don't agree with that," Holloway said.
"In the player's contract you can't, and he can sulk and whinge and do what he likes, but if you're in a situation where that is going to happen, there is only one loser - and that is the player.
"You have to weigh up things. Obviously any footballer will have his head turned by a club the size of Aston Villa. But for me, it's more than that - it's about respect."
Holloway is certainly not looking for confrontation with Adam, but warned: "Hopefully he'll keep his cool, because if he doesn't, we won't be messed with, and he doesn't need to do that.
"Why would he need to lose his dignity?"