Panathinaikos are reported to have turned down an improved €25 million (£21.1 million) offer from the Blues for striker Fotis Ioannidis.
On Monday, it was revealed that Town had made a €22 million (£18.6 million) offer for the Greek international frontman, which was rebuffed by the Athens club, apparently due to it being too heavily weighted towards top-ups rather than up front cash, reportedly an initial €17.5 million (£14.8 million) plus a further €4.5 million (£3.8 million) in bonuses triggered later on down the line.
Now, according to Sportime, the Blues have come back with a new offer worth €25 million (£21.1 million), which is also said to have been turned down.
While Panathinaikos are keen to keep hold of the player and have held talks regarding a new deal, it’s said that the size of the new bid - which would apparently be a new Greek record - could be more tempting for owner Giannis Alafouzos, while the player would also take the interest very seriously.
Other clubs are also keen with a report in Italy yesterday claiming Bologna had agreed personal terms with Ioannidis after talks with his agent, but without having settled a fee with Panathinaikos.
French side Lille are reported to have made a €21 million (£17.7 million) offer earlier in the week, while Portuguese club Sporting CP had previously been the favourites to land the 11-times-capped Greek international.
Ioannidis was a youth player with Olympiacos Chalkida and Levadiakos before breaking into senior football with the latter late in 2018 and in August 2020, he joined Panathinaikos on a four-year deal.
Goals were hard to come by in his first three seasons with the Athens-based side, netting four, four and seven in the league in those campaigns.
Nevertheless, his form was good enough to see him win the first of his full caps, in which he has scored two goals, in 2022, having already played at U18, U19 and U21 levels.
Last season, Ioannidis, whose father Vasilios also played professionally in Greece, netted 23 times and picked up nine assists in all competitions, 15 in the league, seven in Europe, Panathinaikos having narrowly missed out on the group stage of the Champions League before entering the Europa League.