According to Foot Mercato, Al-Sadd returned with an €8 million offer for the 30-year-old defender after initially expressing interest several weeks ago.
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However, the French side consider the proposal insufficient and are demanding more before sanctioning his departure.
OM are keen to sell Aguerd to improve their financial position and have around 10 days to find a solution.
The club recently appeared close to offloading him, only for his proposed move to Real Sociedad to collapse at the final stage.
Aguerd, who is contracted to Marseille until 2030, endured an injury-hit campaign last season, making just 22 appearances for the Ligue 1 club.