Derby County are determined not to lose Will Hughes this month.
The People says City's presence at Derby's matches has prompted reports that a £10million offer - that could include an Etihad player moving in the opposite direction - will be tabled this month.
But Derby consider that figure well short of Hughes's true value and even a higher bid would be rejected.
Nigel Clough's side are still in the hunt for the play-offs and want Hughes to help them win promotion.