Wigan chairman Dave Whelan has turned down a £10m bid from Tottenham for Honduras midfielder Wilson Palacios.
“We don’t want to lose him but Tottenham are really determined to sign him,” Whelan told BBC Radio 5 Live.
“For that lad, £10m is not enough. We are definitely looking for more than that, that’s for sure.”
The Honduran’s performances have resulted in him being linked with moves to Manchester United, Real Madrid as well as Spurs.
“(Boss) Harry Redknapp saw him against Spurs and the lad was outstanding,” Whelan added.
“We don’t want to sell him as we have to replace him and he’s going to be really difficult to replace.”
Palacios signed an extended contract in August, but Wigan boss Steve Bruce admitted that if the right offer came in, the club would be powerless to prevent Palacios leaving.
“We don’t want to lose anyone,” said Bruce.
“But everyone knows in football that everyone has their price and of course we can’t deny the players that opportunity to further their careers.”
He added: “The big boys start circling and coming to nick your players and unfortunately, if they pay enough, then they are always going to get their own way, that is the way of the world unfortunately.
“I haven’t spoken to the boy yet, but I have been there myself and how can you deny somebody a life-changing opportunity?
“We will see what the money men come up with in the next 24-48 hours.
“Whatever happens, though, it will take top dollar to get him. He showed against United what he can do, but in two years time, he can be the best around.”