Milan Baros' move to Hamburg is in jeopardy after the German club failed to meet Aston Villa's valuation of the Czech Republic striker.
Baros joined Liverpool from Banik Ostrava in 2002
Villa chairman Doug Ellis held talks with Hamburg officials on Monday over the future of the 24-year-old, who cost the Midlands club £7m from Liverpool.
Ellis told Villa's website: "Hamburg's valuation of Milan falls way short of anything that is remotely acceptable.
"We are certainly not going to sell Milan Baros on the cheap."
Ellis met with Hamburg officials, headed by director Dietmar Beiersdorfer, and said: "They have now gone back to Germany. We'll wait to see if there are any further developments."
Baros' international team-mate David Jarolim, who plays for Hamburg, claimed the striker "really wants to leave Aston Villa".
But Ellis claimed that was not the case, adding: "Milan has two years left on his contract and his agent has assured us that he is happy at Villa and not looking to leave."
Baros arrived at Villa Park from Liverpool last August and was Villa's top scorer last season with 12 goals.
But manager David O'Leary has been told by Ellis he will have to sell players if he wants to bring in new blood and Baros' departure would bring in a decent sum.
Baros only played one game for the Czech Republic at the World Cup because of injury but may still be worth as much as £8m.
With Martin Laursen's long-term future not certain after his knee problem, O'Leary is looking to bring in a centre-half and a competitive midfielder to ease the strain on Gavin McCann and Steven Davis.