Tottenham Hotspur's hopes of cashing in on one of their most improved players have suffered an unexpected setback this summer.
Djed Spence had emerged as a leading target for Inter Milan, but the Italian giants have now cooled their interest.
And the reason appears to be down to one key demand.
Inter Milan back out of Djed Spence deal
According to reports in Italy (via Sport Witness), il Nerazzurri have decided not to pursue a move for Djed Spence after being put off by Tottenham's £40 million asking price.
The Serie A champions had identified the England international as a potential replacement for Denzel Dumfries following his move to Real Madrid, with claims earlier this week suggesting talks were progressing.
However, Inter were hoping to negotiate a lower fee and have now opted to explore alternative targets instead.
The report adds that Spurs remain firm in their valuation, believing Spence's stock has risen significantly following his performances at the 2026 World Cup.
While Inter have 'walked away at this time', the door has not been closed completely, with the possibility of negotiations resuming later in the transfer window if the north Londoners soften their stance or other targets fail to materialise.
Does Djed Spence have a future at Spurs?
It certainly feels like he should.
Spence arrived in north London with plenty of promise but has had to be patient for consistent opportunities. His displays at the World Cup this summer, however, reminded everyone why Tottenham invested in him in the first place.
The 25-year-old quietly became one of England's unsung heroes during the tournament, combining defensive discipline with the pace and attacking intent that modern full-backs require.
Those performances inevitably increased his value, but they also strengthened his case to remain at Spurs.
Tottenham may need to balance the books after a significant summer of spending, yet selling a homegrown England international who has just enjoyed the best spell of his career would be a difficult decision to justify unless a truly exceptional offer arrives.
At £40 million, Spurs are certainly making it clear they are under no pressure to sell.
If no club is willing to meet that valuation, then Roberto De Zerbi could instead benefit from having a confident, in-form Spence competing for a starting role throughout the season.