St Johnstone manager Tommy Wright is adamant that leading scorer Stevie May will not be leaving 'on the cheap' after a bid from Peterborough United was rejected.
May has scored 20 goals for St Johnstone this season and has been a long-term target for Peterborough manager Darren Ferguson.
Saints chairman Steve Brown confirmed on Thursday that an offer, reported to be in the region of £500,000, had been rejected.
Brown said: "The terms of Peterborough's bid are not acceptable. They have not met our value of the player."
That stance has been echoed by boss Wright, who insists the signing of 35-year-old striker Chris Iwelumo on Thursday will not hasten May's departure from St Johnstone.
"Until our valuation is met Stevie will remain our player, and even then it will be down to him," said Wright in the Daily Record.
"No one is going to get Stevie on the cheap.
"Chris can be a very good foil for Stevie. He isn't here as a replacement.
"Chris has signed until the end of the season with scope for playing his way into a longer stay. I have no concerns about his age. He still has a lot to offer and has played at international level and in the top flight in England."