FC Twente chairman Joop Munsterman has informed potential suitors that striker Luuk de Jong will only be sold by the club if bids in the region of £16m are offered.
The 21-year-old is believed to be in a tug of war between Newcastle United and Borussia Monchengladbach but recent reports have claimed that the Magpies have already given up on signing the forward.
"For [£12m], De Jong will not leave," Munsterman told De Telegraaf. "[£16m] would be an incredible amount."
It is understood that talks have already begun between Twente and Monchengladbach but Newcastle are still in contention to clinch the striker.
