Chelsea have reportedly set a £40m asking price for Callum Hudson-Odoi after rejecting a second bid worth more than £20m from Bayern Munich for teenage winger.
After impressing in the Blues' academy, the 18-year-old has made six senior appearances this season under Maurizio Sarri, and has become hot property amongst European football's biggest clubs.
It is understood that the Bavarian side's latest offer has also been dismissed by the Premier League side, with Chelsea reportedly telling Bayern that they value the England Under-19 international at closer to £40m.
Bayern are said to have made the Chelsea academy product their main priority in the upcoming January transfer window, but are also set to face competition from Bundesliga rivals Borussia Dortmund.
Hudson-Odoi's contract at Stamford Bridge expires in 2020, and as of yet has failed to agree a new deal with his boyhood side.
The winger is highly regarded amongst the Blues hierarchy, and was a key performer in England's 2017 Under-17 World Cup victory, particularly in his dominant final performance against Spain.
German football journalist Raphael Honigstein claimed that the teenage prodigy has a 'cult following' in German football, with Bundesliga clubs keen on acquiring the 'next' Jadon Sancho.
Speaking on Sky Sports' Sunday Supplement, Honigstein said: "There's been a lot of clubs interested in him, and he's made so much progress.
"His stock has risen to the point where he's gone from Borussia Monchengladbach to Dortmund, to right at the top now where Bayern are interested in him.
"It's the [Jadon] Sancho effect - everyone thinks they can get the next Sancho, and I also think from his point of view, he thinks he can be the next Sancho, doing what Sancho's done going to the Bundesliga."