Scunthorpe manager Alan Knill has not ruled out a return to Glanford Park for Christian Ribeiro.
However, the Iron boss thinks the club might not be able to afford the player's wages.
Bristol City defender Ribeiro has already said he would welcome a return to the Iron, where he spent two months on loan last season, making 11 appearances.
Knill told the club's official website: "I've spoken to his agent this week and he has some offers. They're pretty good offers as well I have to say.
"If I'm going to be totally honest we haven't actually put an offer on the table yet. But when I spoke to his agent, who I know really well, and he told us the figures involved, they were quite high.
"Saying that, he's taking a big cut [on his previous wage at Bristol City] to get down to those figures. But even that's more than we could afford.
"Some of the offers he's had are a lot closer to home, which in some ways may be better for him as a person, but I'll speak to Chris in person and see what he's thinking."