Skysports.com understands Watford have rejected Queens Park Rangers' bid for star striker Danny Graham.
Premier League new boys QPR are believed to have lodged a £2.5million offer for the Championship's top scorer.
The former Middlesbrough forward is attracting the interest of a host of clubs after plundering 24 goals for Watford last season.
QPR boss Neil Warnock is a big admirer and sees him as an ideal addition to his squad as he prepares for life back in the Premier League.
Watford are facing a major fight to keep hold of Graham, but they have rejected QPR's opening gambit for the 25-year-old.
It remains to be seen if Rangers will come back in for Graham with a number of other Premier League clubs thought to be monitoring his situation at Vicarage Road.