Melbourne Heart has reportedly turned down an offer of $7million from South Melbourne FC for its A-League license.

The Victorian Premier League club are desperate to be involved in Australia's top flight but have walked away from negotiations empty-handed after being told they may have to stump up more than $9m to obtain the rights to the Heart franchise.

The Heart rejected an initial bid of $4m before SMFC returned with the $7m proposal but hesitated even further when notified of the $9m license cost.

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