Palermo have rejected an offer from Tottenham to sign Uruguay international Abel Hernandez, according to the player's agent.
Reports in Italy claimed the Barclays Premier League side had made a 10million euro (almost £8.9million) bid to acquire the services of the 20-year-old forward.
When asked about Tottenham's offer, Hernandez's agent Vincenzo D'Ippolito said to calciomercato.it: "It's true. But for the time being I know (Palermo president Maurizio) Zamparini has turned down the offer, although I do not know what the figure was."
D'Ippolito added: "If indeed it was 10million euros then it would be considered too low as the value of the player in the market is of 20million euros.
"The transfer market has just started so we will see what happens."
Hernandez joined Palermo in the summer of 2009 from Penarol and is under contract with the Serie A outfit until June 2013.
The South American scored two goals in 22 league appearances for the Sicilian outfit last season.