Leicester have rejected a £25m bid from Bournemouth for winger Demarai Gray.
The Cherries were keen to secure Gray before the close of the summer transfer window having also failed with a £20m offer earlier this month.
Sky Sports News understands the 21-year-old was also wanted by Crystal Palace, who were open to a swap deal involving winger Andros Townsend.
But Townsend's representatives told Sky Sports News that the 26-year-old will not be involved in any swap deal and that, if he leaves, it will be a straight cash offer.
Gray featured 41 times in all competitions for Leicester last season and has so far made four appearances this campaign.
The England U21 international joined Leicester from Birmingham in January 2016 and was part of the team that won the Premier League title.