Leeds have rejected a bid in the region of £35million from Brentford for 18-year-old Archie Gray.
The PA news agency understands the West Yorkshire club were unwilling to accept the structure of the deal for the England Under-21 international and will only sell on their terms.
Gray starred last season as Leeds’ quest for an immediate return to the Premier League ended with a 1-0 defeat to Southampton in the Sky Bet Championship play-off final at Wembley.
Gray, a midfielder who also operated at right back last season, could still depart Elland Road this summer as there is interest from other Premier League clubs.
Chelsea and Tottenham are among those reportedly tracking Gray, who signed a new long-term contract in January.
Leeds are under pressure to make at least one lucrative sale in order to comply within financial fair play rules after failing to return to the top flight.
Gray, who plays for England at youth international level but remains eligible for Scotland, is among the club’s most valuable assets.
Dutch winger Crysencio Summerville and Italy forward Wilfried Gnonto are among the club’s other bankable assets who could be sold.
