Sheffield Wednesday chairman Dave Allen says Championship rivals Birmingham City are interested in signing centre-back Madjid Bougherra.
The Algeria international has been linked move away from Hillsborough this month, with Premiership strugglers Charlton Athletic failing with a £1.3million bid for the North African talent.
Owls chief Allen has now confirmed the interest of the St Andrews club, though Wednesday are insistent they will not part with the 24-year-old for less than £3million.
"I think that if Birmingham come in properly, we'll be able to do a proper deal with them because I know their directors very well and we'll be able to deal with things sensibly," Allen told Radio Sheffield.
"It depends what happens with Matthew Upson there.
"I'd like the lad to stay. Everyone would like him to stay. But at the end of the day, if we get £3 million for him, it'll be a deal well done."
The news comes as former Birmingham striker Oliver Allen has dropped down to League Two to join Paul Fairclough's Barnet on a free transfer.
The move to Underhill comes less than a fortnight after the former Tottenham Hotspur hit-man left Blues by mutual consent, having failed to make a first-team appearance.
The Bees, meanwhile, have placed centre-back Anthony Charles on the transfer list, despite the former Farnborough Town man signing a new one-year contract with the club last May.