Toulouse have rejected a second improved bid from Lyon for striker Andre-Pierre Gignac, with president Olivier Sadran determined to keep hold of his star.
Le Tefece surprised everyone last season by finishing fourth and securing a Europa League place just a year after successfully battling against relegation.
Gignac flourished more than most as he topped the Ligue 1 scoring charts with 24 goals and a call-up to the French national team soon followed.
Lyon have been quick to spend some of the money from the sale of Karim Benzema when they completed the signing of Lisandro Lopez for €24million from Porto on Saturday and have now set their sights on the 23-year-old Toulouse frontman.
However their bid, believed to be around €15m, has been dismissed out of hand by Sadran, despite Gignac stating that he wanted to move.
"I have said no (to transfers) several times in my life. When I say no I mean no," he told L'Equipe.
Lyon have also been linked with a move for one of their former players in Loic Remy, who they sold to Nice last summer for €8million.
The 22-year-old has excelled since being given the platform to showcase his talent on a regular basis and Les Aiglons have already rejected a bid from Lyon of €13.5million plus forward Anthony Mounier for the striker.
Even if Lyon meet Nice's reported valuation of the player, thought to be €16m, Remy insists there is no guarantee he will return to the club where he began his career after playing just 12 times for the club in two seasons.
"It is not definite I would accept a transfer," he declared. "With time passing by I tell myself going back to Lyon could be a risky bet."