Birmingham City have turned down a third bid from AFC Bournemouth believed to be in the region of £3 million plus add-ons for their teenage winger Demarai Gray.
Gray, who finished his apprenticeship with the club last summer has been sparkling form in recent weeks.
The 18-year-old, who was named The Football League young player of the month for December yesterday, scored a 34 minute hat-trick against Reading just before Christmas.
He has been an exciting attacking outlet for the Blues who have climbed the Championship table since the arrival of new boss Gary Rowett at the end of October.
The Cherries who head the Championship, have already made offers of £1.5m and £2m for Gray, however, the Blues who have publically insisted that Gray is not for sale are thought to value the player at around the £5 million mark.
Liverpool and Newcastle are also reportedly monitoring the player.