Reading manager Steve Coppell has confirmed defender Nicky Shorey is expected to make a return to the Premier League within days.
The Royals, who were relegated to the Championship on the last day of last season, have confirmed a bid has been rejected for the former Orient man, who has won two caps for England.
But Coppell expects the unnamed club to try again and Reading will let Shorey leave as soon as their valuation is met.
A year ago a £4million offer from West Ham was rejected, with Coppell describing it as 'derisory' but the player has continued to be linked with the Upton Park club as well as Portsmouth, Newcastle and Aston Villa.
Coppell said: 'To be fair to Nicky Shorey, he has made it clear from this time last year that he would prefer to leave and ply his trade elsewhere.
'We as a club have an asset and it is a delicate balancing act between trying to satisfy the demands of the player and also trying to satisfy the demands of the football club.
'We had a good talk yesterday, there was a little bit of interest last week and the chances are he will be gone by next week. I am 60-40 convinced that he will be gone.'
The left-back is in the final year of his current contract but Coppell made it clear he would still cost a seven-figure sum.
'The offer was a firm one but we have no need to sell anyone and I'm not going to give anyone away,' Coppell explained.
'It has to be a realistic bid in terms of market valuation, and bear in mind that 12 months ago he was coming off the back of playing two games for England against Brazil and Germany.
'I don't feel disposed to let him go for nothing. I appreciate it is a year on from that particular moment, but as yet the valuation is not what we find acceptable.'
Coppell declined to name the bidding club or whether it had been close to Reading's valuation.
He added: 'Two bob is miles away as far as I am concerned. If it is not meeting the valuation then it is a long way away.
'I have been fairly fair with Shorsey and he accepts the situation so clarity would be best for everybody.
'We are in that ridiculous situation that if nobody comes in for him then he will still be here.
'I would dearly love him to be playing for us as he is a significant player for us.
'So there are about three balls up in the air for us and it is unsatisfactory for him, for us and for everybody.'
Shorey took no part in his side's 1-1 friendly draw with Villa at the Madejski Stadium and watched from the stands before declining to comment as he left the ground.