Saint-Sernin hopes to sell M'Vila next month.
"We thought Yann M'Vila would leave and had organized things in relation to his. It could not be done and we found ourselves a bit wobbly," said the president, who admitted on RMC they had turned down an offer of €15 million from Spurs for the midfielder.
"In recent days, we have received expressions of interest from three clubs in Europe." Among those clubs are Spurs, who now want to take M'Vila on a six month loan.