Las Palmas chief Toni Cruz has confirmed Barcelona have made an offer for Mauricio Lemos.
However, Cruz has branded the bid "insufficient".
"Barca made a formal offer. I won't say the amount. We do not consider it enough to accept and so we passed.
"In addition, between the two entities relations are fantastic," said Cruz.
"His buyout clause is closer to our valuation."
Lemos' Las Palmas deal carries a €30 million escape clause.