Arsenal boss Arsene Wenger claims the club made a bigger offer than the reported £6million for Bolton's Gary Cahill.
The Trotters rejected an offer for the 25-year old centre-half that they claimed was 'derisory' but Wenger has hit back, saying the figure reported is not correct.
"First of all I would like to say the number is wrong," said Wenger.
When asked if it was less than £6m, he joked: "You know me quite well!
"It's completely wrong and nothing to do with how much we rate the player.
"I believe negotiations are between two parties and you only have to sell the player if you are alright with the price.
"In this case the information is below what has been spoken about."
And Wenger also said he was happy to confront Bolton chairman Phil Gartside if he has a problem with what has occurred thus far.
"It is not true. You can believe Gartside or you can believe me. It's not right. It's not the truth," he added.
"If Gartside can say I am lying I am ready to confront him. The truth is that we never speak about our negotiations.
"If a club doesn't want to sell a player it can keep him. When we sign a player we come out here and tell you and keep the price a secret.
"They do not need to sell the player, they can keep him. If you ask do I want to buy your house and you are not happy with the price you say no, that's it.
"Why should you feel insulted? I don't understand. If the player is not for sale they can keep him. I don't understand the problem.
"If we want to buy the player we buy the player. I do not have to explain for how much."
