West Ham United have failed with a £12million bid for Neymar, according to the Brazilian teenager's current club Santos.
The 18-year-old forward has been linked with moves to some of Europe's leading clubs after emerging as the next starlet on the production line of Brazilian football.
Manchester United, Chelsea, Real Madrid and AC Milan have all been mentioned as potential suitors in recent months.
However, West Ham's attempt to jump the queue has been rejected by Santos' director of football Pedro Luiz Nunes.
"We received an offer from West Ham for Neymar, worth 15million euros," he said.
"Our position is clear, we do not open negotiations. These athletes only leave the club by paying the release clause."
The Brazil Under-17 international scored 27 goals in 29 appearances for Santos last season and eyebrows were raised when he was left out of coach Carlos Dunga's World Cup squad for South Africa.Subscribe to Football FanCast News Headlines by Email