The J.League side reportedly tabled a bid of around $200,000 for the 24-year old attacking midfielder but the Victory are holding out for more.
According to Nichols' agent Buddy Farah, the former Brisbane Roar ace is disappointed with the decision of the Victory as he is seeking a move abroad as he looks to force his way into Australia's World Cup squad.
"Victory didn't consider the offer, but I'm hoping that they may reconsider, or at least negotiate for the player's sake," said Farah.
"Mitch has been keen to pursue his overseas ambitions for a while and Victory was aware of this when he signed and he believes this would be good for him.
"I believe it would enhance his World Cup chances. It's a superior league and he would be playing right up until the eve of the World Cup with the (J.League) season starting in March."
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