Blackburn Rovers have rejected a fresh proposal from Watford to sign striker Adam Armstrong, The Sun reports.
The 24-year-old had a superb 2020/21 campaign for Rovers, registering 29 goals and five assists from 43 appearances.
His displays saw him voted as the Championship’s PFA Fans Player of the Year ahead of Teemu Pukki and Ivan Toney.
With under 12 months remaining on his contract, he has been tipped to move on with widespread Premier League interest.
However, club owners Venky’s are firm on the £25 million price tag. Newcastle United are owed 40 percent of the profit.
Watford recently made a £15m offer for Armstrong, with Andre Gray moving in the opposite direction on a season-long loan.
Rovers rejected the proposal, and they have no plans to negotiate swap deals for their prized asset this summer.
They previously turned down a low-ball offer from Southampton that included Michael Obafemi moving in the opposite direction.
The Hornets have bolstered their strike force this summer with Ashley Fletcher, Emmanuel Dennis and Joshua King.
The newly-promoted club also have Gray, Troy Deeney, Isaac Success and Joao Pedro, who can lead the line for manager Xisco.
There could be a few departures. Success and Gray appear the most likely to head for the exit door in the coming weeks.
Armstrong is eager to prove himself in the Premier League, having made just 15 appearances in the past.
The Hornets could be prepared to assure him game time next term, but Rovers have a firm stance on their price tag.
They could loosen their grip towards the end of the transfer window but may look for at least £20m for their star player.
The Saints are also active in the pursuit of Armstrong, and they could yet offer stiff competition to the Hornets.
The England international is valued at £20m. The Saints could use the funds recouped to push through a deal for Armstrong.
Stats from Transfermarkt.com