Accrington Stanley are aiming to receive a fee of £250,000 for Bobby Grant, who is wanted by Scunthorpe United.
Grant is out of contract at Accrington and the League Two club will be entitled to compensation for the teenage striker.
If a fee cannot be agreed with any of the 19-year-old's suitors, then the matter would be decided by a tribunal, with Stanley's chief executive Rob Heys outlining what the club want.
"We would be disappointed if we got less than £250,000. Scunthorpe offered a million miles below that," Heys told the Lancashire Telegraph.
Scunthorpe manager Nigel Adkins has confirmed discussions have taken place over a deal for Grant, who has been a long-term target for the Championship club.
Adkins told the Scunthorpe Evening Telegraph: "He is someone we have had on our radar now for about a year.
"But we are still in negotiation with Accrington. The deal is not yet done."
Grant has previously been linked with a move to Derby County and looks set to leave Accrington despite manager John Coleman previously holding hope that the forward would sign a new contract.