Manchester United have rejected a bid of £53.9m from Inter Milan for Romelu Lukaku, Sky Sports News understands.
The Serie A side, who made the bid two days ago, offered the money upfront with no add-ons included in the deal.
But it has been dismissed by United, who want in excess of the £79m they paid to sign Belgium international striker Lukaku from Everton two years ago if they are to allow the 26-year-old to leave Old Trafford.
New Inter manager Antonio Conte confirmed his desire to sign Lukaku on Friday, saying: "You know very well that I like this player, also in the past when I was Chelsea's coach and I tried to bring him.
"But I repeat: today Lukaku is a player of United. I have great respect for United.
"I consider him an important player for us to have a good improvement. We know which is our situation; we will see what happens."
United play Inter on Saturday in the International Champions Cup, but Lukaku will not be involved.
Ole Gunnar Solskjaer says the 26-year-old is injured, meaning he is still yet to play for United during pre-season.
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