Nottingham Forest’s £30.2m offer for French forward Dilane Bakwa has been turned down by Strasbourg.
The 22-year-old, who has recorded 11 goals and 20 assists in 69 matches, is keen on a move to the City Ground and remains optimistic a deal can be reached.
The rejected bid comes as uncertainty grows around manager Nuno Espirito Santo’s future.
The manager recently admitted his relationship with owner Evangelos Marinakis has “changed” and sources suggest his position is not entirely safe despite the club’s seventh-place finish last season.
Nuno is reportedly frustrated with the club’s transfer activity, and is still seeking to sign a goalkeeper and two full-backs.