Paderborn chief Sebastian Lange has confirmed Celtic's £4million offer for Mika Baur has been booted out.
The Hoops are desperate to add the Germany under-21s international to their squad this summer and have officially approached his club.
Paderborn don't want to sell their star asset who had an excellent campaign last term. And they are looking for more than the offer put on the table by the Scottish champions.
Lange knows the club have big money talent in their ranks and he plans to hold out.
And he confirmed that any bids that have been tabled have now been rejected, including Celtic's for the 22-year-old.
Speaking to NW Sport, he said: "It’s nonsense. I have no idea where this stuff comes from.
"Have there been offers for players during this transfer window? Yes. Are there offers right now? No. Why not? Because we rejected them all. There are sporting and financial reasons for this.
"Ultimately, we decide what is of interest to us. And everything that came in was, from a financial standpoint, of no interest to us whatsoever.
Grilled specifically on the club's decision to reject Celtic's bid for Baur, he replied: "We didn't have to think twice during this transfer window.
"There are a few players (we have received offers for). And that’s nothing unusual. There were even players involved whom you wouldn't expect. Four to five. That includes players from the U21 squad. It’s not as if we have offers for four key players.
"I don’t want to name names, because I don’t want to spoil the market for one or two of them. For SCP, the transfer fee alone isn't the deciding factor anyway; rather, a transfer has to make sense both financially and in sporting terms.
"We have a squad valuation that we calculate internally using a specific formula. There is a sporting value and a financial value.
"The question is: How important is the player to us, and can we actually strengthen the squad? Because only then does it really make sense to let a player go. We want to improve.
"It’s independent of any departures. We want to strengthen the squad either way. And, ideally, keep all the players—or almost all of them.
"We are no longer operating at a loss. We aim to finish the Bundesliga season with a profit, too. We are no longer dependent on transfer revenue like we were in the 2. Bundesliga. We can work with different figures."
"Our job remains to stay calm. But we are certainly noticing right now that the transfer rumor mill is starting to heat up. And that’s only going to increase. We have a long, intense period ahead of us."
