Walsall have turned down an official £200,000 offer for Anthony Gerrard from Scunthorpe United.
The defender has long been linked with a move away from the Banks' Stadium and was the subject of a failed bid from Southampton last September.
Gerrard continues to attract the attention of a number of clubs and Scunthorpe have attempted to steal a march in the race for the former Everton youngster.
But Walsall want to keep one their star assets and have rejected the approach from the newly-promoted Championship side because it did not meet the 22-year-old's price tag.
A statement on the Saddlers' official website said: Walsall football club can today confirm that a £200,000 written offer from Scunthorpe United for Anthony Gerrard has been rejected as it does not meet our valuation of a player who is attracting plenty of interest from elsewhere."