Sky Sports understands Walsall have rejected a bid from Bradford for captain Andy Butler.
Butler is entering the final six months of his contract at Walsall and as yet no fresh terms have been agreed.
The news alerted Capital One Cup semi-finalists Bradford, who are keen to bolster their squad during this month's transfer window.
However, Walsall have turned down Bradford's offer for Butler as they look to keep hold of the central defender.
Butler has established himself as a key member of the Walsall side since arriving in November 2010 and the League One outfit are determined to fend off interest in the former Scunthorpe and Huddersfield man.