Red Star Belgrade have received two respective offers, each €7m, for striker Richmond Boakye-Yiadom from German Bundesliga duo Hoffenheim and Hannover 96.
According to Serbia's leading newspaper, Red Star Belgrade are asking for more.
The paper further claims the club rejected both offers, contending Boakye is worth more than €7m.
Earlier reports had claimed Red Star rejected an offer for the striker not significantly far from €6m.
It is understood Russian giants Locomotive Moscow are also interested in the player.
Boakye is currently joint top scorer in the Europa League with 7 goals.