Chelsea and Newcastle will reportedly have to pay at least £60million if they want to complete a deal for Brighton striker Joao Pedro in the summer window.
Fabian Hurzeler's side have rejected a £50m bid from Newcastle, who have been long-term admirers, in the past week.
The Seagulls are conscious that the Brazilian's price could be inflated by interest from the Blues, who have already spent £30m on Liam Delap.
The 23-year-old scored 10 Premier League goals and provided six assists last season.
He is said to only favour a move if he could be first-choice striker, in what could be a stumbling block to any deal.
As well as Newcastle, another unnamed Premier League club has seen a bid rejected, according to The Mirror.
Brighton are holding out for a bid of £60million in order to let Joao Pedro depart this summer
The Brazil forward scored 10 goals and provided six assists in the Premier League last season
Pedro was left out of Brighton's final two games after an altercation with Jan Paul van Hecke
Pedro signed from Watford for a club-record £30m deal two years ago.
He missed the final two games of the season following a training ground bust-up with team-mate Jan Paul van Hecke.
Hurzeler claimed the matter was 'closed' ahead of their final game of the season, a 4-1 away win against Tottenham.
Chelsea and Newcastle have both qualified for the Champions League next season, while Brighton missed out on the final European spot with their eighth place finish.
While Chelsea have already signed Dario Essugo, Estevao, Mamadou Sarr and Kendry Paez, the Magpies are yet to complete their first summer deal.
Brighton have become well known for cashing in on large profits for their stars and quickly signing impressive replacements.
In recent years they have sold Moises Caicedo, Marc Cucurella, Alexis Mac Allister and Ben White for significant fees.
Pedro has three caps for Brazil after making his international debut last November.
Chelsea have already completed a £30million deal with Ipswich to sign Liam Delap this summer
Isak is contracted until 2028 and is likely to remain at Newcastle while Wilson could leave
He is part of a trio of experienced Premier League players, including Nottingham Forest winger Anthony Elanga and Burnley goalkeeper James Trafford, who Newcastle are targeting this summer.
Meanwhile, Alexander Isak, who is contracted until 2028, is likely to remain at St James' Park.
Callum Wilson could still depart when his contract expires at the end of the month, with the club yet to agree new terms.