Sao Paulo have stated that they are not currently considering any offers for Lucas Moura, whilst warning that a bid of €25million would be far too low.
Inter Milan are reported to have made a bid in that range (£19.8m), as a number of European clubs continue to be linked with a swoop for the highly-rated 19-year-old.
Midfielder Lucas says Inter have made contact with his agent and has admitted there is a chance he will not stay with Sao Paulo until his contract expires in 2014.
Real Madrid, Chelsea and Manchester United are also understood to be monitoring Lucas' situation, but Sao Paulo have reiterated that they will fight to retain his services.
Club vice-president Joao Paulo de Jesus Lopes told Lancenet:"There are no bids, but €25million is ridiculous, they can't pay that for a player like Lucas [Moura].
"We refused better offers than that."