Fernando Llorente, who has been linked with a number of clubs including Manchester City and rivals Manchester United, has reportedly rejected Athletic Bilbao's new contract offer.
The Spain international has been linked with number of clubs in recent weeks, with Arsenal, Barcelona, Chelsea, and Tottenham also thought to be showing interest.
Llorente last month hinted that he could be ready to move to the Premier League if and when he leaves La Liga, and according to Metro, the 27-year-old has turned down a three-year, £60,000-a-week contract extension.
The forward is said to have told Los Leones he wants a deal worth in the region of £80,000-a-week.
The contract snub will lead to further speculation about Llorente's future, and according to AS, Man Utd are favourites to secure his services should he seek a move away from the Estadio San Mames.
United boss Sir Alex Ferguson has confirmed he is looking to bring in one or two more new faces this summer, but whether the club would be willing to meet Bilbao's valuation of Llorente, however, remains to be seen.
Bilbao president Josu Urrutia last month insisted the club would not let the forward leave for less than the value of his buy-out clause, which is set at €36million.
"He is a key player and we would not accept less, the supporters would not accept this," said Urrutia.
Further talks are expected to take place in the coming days.