Lyon striker Fred has been warned that he risks missing out on a transfer to Tottenham Hotspur if he continues to waver over an exit from the French champions.
The 25-year-old Brazilian was expected at White Hart Lane for talks on Tuesday, but failed to meet up with Spurs boss Harry Redknapp.
Lyon president Jean-Michel Aulas warned: "All I know is I haven't received a single offer concerning him, in any case from a European club.
"The only one has come from Palmeiras of Brazil, but Fred doesn't want to go there.
"Regarding Tottenham, we haven't talked. The last news is that there is a disagreement between Fred and the English club.
"Fred is in the process of tarnishing his image, notably with the big clubs.
"He must go to a European club by Saturday evening and there will be a transfer fee. It will not be too high, but there will be one. He knows what is expected of him if he has to stay."
Redknapp had admitted after the 3-1 win over Stoke City: "He was supposed to come in today but didn't turn up, so I wouldn't bet on him coming tomorrow.
"I don't know what happened, the plan was for me to meet him and have a chat with him.
"He's out of contract in the summer, so I think they are asking for a small fee."