Newcastle United have turned down a 15m euro (£12.8m) offer from Bayern Munich for right-back Kieran Trippier.
He was Newcastle's first signing since their Saudi Arabian-backed takeover, and the first under manager Eddie Howe.
Ex-Burnley and Spurs defender Trippier has made 62 Premier League appearances for the Magpies and has regularly captained Howe's side this season.
Earlier this month, Newcastle chief executive Darren Eales said the club may have to sell players in order to comply with the Premier League's profit and sustainability rules.
Striker Callum Wilson has been linked with a move to AC Milan and winger Miguel Almiron is reportedly a target for Saudi Pro League side Al-Shabab.