Reims president Jean-Pierre Caillot claims Newcastle's 'unrealistic clauses' in their £29million offer for 'wonderkid' Hugo Ekitike.
The Magpies are one of a number of clubs linked with a move for the 19-year-old, but they'll have to improve their offer.
Caillot claims Newcastle held talks with the Ligue 1 club but the offer did not suit the French club.
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"It is true that a lot have realised the quality of the player now, but not us. He was formed with us and it does not surprise us," Caillot told Le Quotidien du Sport.
"Newcastle positioned themselves, we discussed it, they made us an offer that did not suit us.
"As we do not really want him to leave, we have fixed the price quite high. They did offer us €35million (£29m) all in, but with a number of bonuses, some of them were quasi-impossible to reach.
"Like for example, winning the Champions League… We want €30m (£25m) flat and €10m (£8.3m) achievable bonuses."
However, earlier this month Howe said the club would not be held to ransom over potential targets.
"You have to draw a line in certain situations and say, 'No, we're not going to pay that money', otherwise where does the game go? It goes to an uncomfortable place, I think," the Magpies boss said.
"It's all about the individual player and judging each situation on individual merits, and that's what we've tried to do."
