Zenit St Petersburg have claimed Tottenham are in the race to sign Andrei Arshavin but need to increase their valuation of the Russia international.
Dimitar Berbatov and Robbie Keane have told Spurs they wish to leave White Hart Lane, to Manchester United and Liverpool respectively, and Arshavin would be seen as a replacement for the latter as a deep-lying striker.
'With Tottenham we have contacts,' said Zenit sporting director Konstantin Sarsaniya. 'This English club is really interested in acquiring Andrei but, as I understand, 27 million Euros (£21.5 million) is too high a price for them.'
Berbatov and Keane would be expected to raise more than £40million between them, and Arshavin is valued by his club at more than half of that amount following his eye-catching Euro 2008.
Sarsaniya added: 'For Spurs it is unacceptable. Tottenham are ready to pay in the region of 20 million Euros (£15.9 million) for Arshavin.'
Arshavin stated earlier in the summer that Barcelona would be his preferred destination but a move to the Catalan giants has not materialised so far.