The Daily Star says Barnsley have offered to quadruple Butterfield's wages to keep him out of the clutches of the Premier League big-guns.
The Tykes' skipper's pay rise would swell his salary to £8,000-a-week.
Former Manchester United trainee Butterfield, 21, who is also wanted by Championship top-two Southampton and West Ham, is out of contract next summer and admits: "I'm still thinking my future through.
"I love playing for gaffer Keith Hill and Barnsley, but I have also got to consider what is best for me.
"I want to perform at the highest level and I have ambitions to play in the Champions League and for England."