Shakhtar Donetsk have rejected Roma's bid to sign sought-after striker Luiz Adriano.
According to reports in Italy, the Serie A outfit tabled a bid of £1.5m for an initial loan move with a future purchase option of £5m.
However, Shakhtar Donetsk CEO Sergei Palkin believes the combined fee of £7.5m is not enough for the club to cash in on the 27-year-old.
The news comes as a boost for interested Premier League pair Arsenal and Liverpool, who are now expected to make an increased offer.
"We're still dealing with the Giallorossi for Luiz Adriano," Palkin said.
"But for the moment the offer is inadequate.
"We'll see what's going to happen over the next few days."
The Brazil international has found the back of the net 121 times since his £2.5m move from Internacional in 2007.
Source: Daily Express