Feyenoord have had a £9 million bid rejected by Genk for former Celtic flop striker Oh Hyeon-gyu.
The South Korean star moved to Belgian football last summer in a deal reportedly worth £2.5 million to the Scottish champions plus another £1 million in performance-related bonuses.
However, it was undisclosed whether Celtic had inserted a sell-on fee for the 24-year-old.
Feyenoord are desperate to land Oh, but Genk have made it clear they have no intention of selling the 19-times capped international, who still has three years of his deal left.
He was mostly used as a sub for Genk during his first season in Belgium and only made three league starts, but still scored nine goals for them.
But Genk are set to sell Manchester United-linked star striker Tolu Arokodare and want to promote Oh as their main attacking threat for the new season and Feyenoord would have to substantially up their offer to have any chance of signing the player.
Oh revealed last summer he felt he had to leave Celtic - where he scored 12 goals in all competitions despite only making six starts - because of the arrival of Adam Idah.
He said: "I had lost my place in my national team because I was no longer playing for Celtic.
"It was then I knew I had to get a transfer.
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"I scored 12 goals in total for Celtic, but I hardly played in the last six months.
"They had brought in a new striker, someone with a different profile - a big, strong boy - and they had to find a solution for me.
"I thought that was a shame at first because I really loved Celtic. It's a great club.
"But when Genk came calling, I didn't hesitate. I had a few options in the English Championship, but I just wanted to come here.
"When you see all the players who came through here - Kevin De Bruyne, Thibaut Courtois, Leandro Trossard and more. That's impressive, isn't it?"
