Chelsea want a higher price than £120m for Enzo Fernandez amid Manchester City's ongoing interest in the midfielder.
Chelsea had long been open to business for a £120m fee for the Argentina international in what was already a complicated saga, but it is understood that no longer applies, partly due to how summer market valuations have risen.
One of the higher prices was the £116m fee City themselves paid to Nottingham Forest for Elliot Anderson this summer, and it now appears they would have to greatly increase on that club record to secure Fernandez.
Fernandez was not in Chelsea's squad to face Luton (Getty)
Chelsea would also want to make sure they are able to secure a replacement. There remains a great deal of sensitivity and tension around the Fernandez situation, particularly with how former Chelsea manager Enzo Maresca sees him as a key signing for his new club at City.
Fernandez was not in Chelsea's squad to face Luton Town in the Carabao Cup on Thursday night, despite manager Xabi Alonso saying the previous day that he expected the midfielder to be involved.
The 25-year-old has been heavily linked with a move to Manchester City since the World Cup and Maresca's side are expected to return with an offer for the Argentina international despite missing an informal deadline earlier this month.
It would mean City could spend well more than £300m on midfielders this summer in what has been a complete overhaul following the departure of Pep Guardiola, whose exit was followed by those of long-serving players Rodri and Bernardo Silva.
City have recouped around £165m for selling Rodri to Barcelona, Tijjani Reijnders to Saudi Pro League club Al-Qadsiah and Nico Gonzalez to Newcastle, while Maresca's side also added the signing of 18-year-old Ayyoub Bouaddi for £86m following the arrival of Anderson.
The Independent understands Chelsea are prepared to go back to Bournemouth for midfielder Alex Scott if they sell Fernandez. The Cherries have so far shut down any interest, but there's a belief a bid in excess of £80m, and probably closer to £90m, might bring reconsideration.
Alonso named a strong team to face Luton, selecting both Cole Palmer and Morgan Rogers, but Fernandez was notably absent from the squad despite the new Chelsea manager saying he expected Fernandez to be included on Wednesday.
"We assessed situations, individual and collective and we have decided he is not in the squad for today," Alonso told Sky Sports before facing Luton, which was Chelsea's first competitive home game of the new season.
Fernandez featured off the bench for Chelsea in their Premier League opener at Fulham on Monday and was booed by the home fans at Craven Cottage for his role in the Argentina's World Cup semi-final win over England.
Fernandez received a comparatively warm reception from Chelsea supporters when he came on, having been previously booed during a friendly against Real Sociedad at Stamford Bridge before the start of the season.
Asked whether he would like to keep Fernandez before the Luton match, Alonso added: "We want to have the best team possible. We know his qualities. He has shown it and we have to wait, but we will think about tomorrow and let's see how things develop."
