Bolton Wanderers have failed in a bid to sign Ferrie Bodde from Swansea City.
The Premier League club lodged a £2.5million bid for the player, which Swansea turned down.
Swans chairman Huw Jenkins told the club's official website: "We received a written offer from Bolton on Thursday.The offer was worth around £2.5million.
"We believe Ferrie is worth a lot more than that and, as a result, we officially turned the offer down. In fact, we don't want to sell any of our players."
The 27-year-old Dutchman had interested Gary Megson as the Wanderers boss searches for a play-maker.
Despite Bodde still recovering from a serious knee injury, Megson had earmarked the Championship player as his top target to bring to the Reebok Stadium.
It is understood that half of any fee that is paid for the player will go to Bodde's former club, ADO Den Haag, who have a sell-on clause in the player's contract at Swansea.
Bodde has declined to comment about where his future lies.
Bolton's local rivals Wigan Athletic and Burnley are also reportedly targeting the player.