Aston Villa have rejected a bid from Stoke City for defender James Chester, according to Sky sources.
Sky Sports News understands the bid for the 29-year-old centre-back is in the region of £5m.
Villa boss Steve Bruce has told Sky Sports News that the club have no choice but to sell a number of their prized assets in order to stave off the threat of administration.
Villa need to raise £40m to comply with Financial Fair Play regulations following last season's failure to secure promotion to the Premier League.
The club faced a winding-up order via the High Court last month until they agreed a payment schedule regarding money owed to HMRC.
New Stoke manager Gary Rowett wants to sign Wales international Chester from their Championship rivals as he aims to return to the Premier League at the first time of asking.
Kurt Zouma has returned to Chelsea and Marc Muniesa has made a loan deal to Girona permanent, leaving Rowett short of defensive cover ahead of the new Championship season.
Stoke kick-off the campaign away to Leeds United on August 5.