Fulham have rejected a £10m offer from Sheffield Wednesday for striker Ross McCormack, according to Sky sources.
The Scotland international joined the Cottagers from Leeds United for £11m only last summer and scored 19 goals during his debut season with the club.
His impressive form last season led to talk of a move away from Craven Cottage this summer, with reported interest from Middlesbrough and Premier League Norwich City.
But a bid from either club did not materialise.
Wednesday, however, have formalised their interest in the 29-year-old, who only recently signed a one-year contract extension to keep him at Fulham until the summer of 2019.
Sky sources understands the Owls' record transfer bid of £10m has been quickly rebuffed by their Championship rivals and it is not yet known whether they will return with an improved offer.
Meanwhile, Wolverhampton defender Richard Stearman is close to joining Fulham for a fee in the region of £2m.