Sunderland have shown a major interest in Vaughan and reports emerged last night that the 28-year-old was the subject of £900k bid. Bury have also received two other offers from unnamed Championship sides.
The Shakers want a seven figure sum for their striker – a price they deem as fair considering Vaughan netted 24 times last season.
Vaughan only has one year remaining on his current contract and a deal between the two clubs could be agreed as quick as Thursday. Sunderland boss Simon Grayson worked with the forward when he was manager at Huddersfield.
Clark told the Bury Times: "Another bid from a Championship club has been turned down since we came away (on a training camp in Marbella).
We don’t want to sell him and no matter what we won’t be selling him to another League One club.
“If James wants to go to a club that is in a higher division then that’s up to James, but his valuation must be met. We made that perfectly clear to James, he has given us his feedback and there are no issues.”
Sunderland currently have no senior strikers on their books, but the two clubs are understood to be close to reaching an agreement. Jermain Defoe, Fabio Borini and Victor Anichebe have all departed the north east this summer leaving Grayson to work with youngsters Josh Maja and Joel Asoro.
Speaking after Sunderland’s win over Livingston on Wednesday night, Grayson said: "We’re moving forward with quite a few new faces. Over the next couple of days I’d like to think we’ll get close to a couple of new deals.
"After that we’re hopeful that there’ll be another couple, but I don’t really comments on individuals as you’ll get used to.
“I know there’s negotiations or talks going on between the two clubs. I’m not sure what level it is, I’d be surprised if it has reached that level (a £900k bid).
"He’s a player I’ve worked with, know a lot about, and we have to bring in the right bodies whether that it be James Vaughan or any other players that we’ve been linked with.
"If we bring James Vaughan to this football club it is because we think he’ll affect the squad in a different way to what we’ve already got.”