Preston have rejected an offer from Premiership club Fulham for goalkeeper Carlo Nash.
The Cottagers were linked with a £500,000 move for the 33-year-old earlier this week but the Deepdale club denied there had been any offer.
North End chairman Derek Shaw admits an offer that has now come in from the London club is close to the £500,000 mark but maintains Nash will not be leaving.
He told the club's website: 'We have received a bid from Fulham for a fee which is close to what was reported in the press but that bid has been rejected.
'A large percentage of the fee would be based on appearances and for Preston to receive the full fee, Carlo Nash would have to make 80 appearances in the Premiership. We do not believe Fulham's offer meets our valuation of the player.
'Selling him for that price would only leave us in a difficult situation in the short term but we would also find it impossible to find a suitable replacement for the money received. As far as we're concerned, that's the end of the matter.'