Celtic assistant manager Chris Davies has said that £20m is "well below" the club's valuation for in-demand striker Moussa Dembele, who continues to be linked with a number of clubs.
Dembele, who joined Celtic on a free transfer from Fulham in the summer, has scored 17 goals for his Scottish club this term, including three times in the Champions League.
Manchester United, Chelsea, Barcelona, Real Madrid and Bayern Munich have all been credited with an interest, but the former Fulham striker recently said that he wants to continue his development in Scotland.
This week, West Ham United have been linked with a £20m move for the Frenchman, but Davies has firmly denied suggestions that the striker will be moving this month.
"That figure is definitely well below the valuation, that's for sure," Davies told reporters. "I think the manager (Brendan Rodgers) spoke pretty clearly on that situation previously. There has been no formal bid or anything like that so it is speculation.
"From us, we know this is the best place for Moussa to develop. He is still 20 years old and has development left in him. He has had a fantastic first six months, he has absolutely loved it and there is so much more to come from us as a team and from Moussa at Celtic. That is what we are concentrating on.
"When you are doing well, especially when you are a striker, there is going to be big money and talk thrown around a lot – especially in transfer windows."
Dembele is contracted to Celtic until the summer of 2020.
Matt Law
