Watson came through the youth ranks at Crystal Palace
Crystal Palace manager Neil Warnock says the club have turned down offers from Birmingham and QPR for want-away midfielder Ben Watson.
Both were rejected, but an unnamed Premier League club has also entered the race for the 23-year-old.
Warnock told BBC London 94.9: "Their valuations haven't really met ours, so he is our player until we can agree one - we're going to wait and see.
"Ben's a lovely lad and he's training hard - that's the situation right now."
Watson graduated from the Crystal Palace youth system in 2003 and has made 170 appearances for the Eagles.
Despite being offered a new contract that would make him Palace's top earner, he has decided his future lies elsewhere.
We're not going to let a situation like Mark Hudson develop where we get nothing for a player
Crystal Palace boss Neil Warnock on Ben Watson's future
He's the third player this summer to turn down the chance to stay at Selhurst Park, following defender Mark Hudson - who has since moved to Charlton - and striker Clinton Morrison, who is yet to find a new club.
But, unlike Hudson and Morrison, Watson still has a year to run on his present contract.
And Warnock, who says he would consider playing Watson in Palace's opening game of the new season if he has not moved on by then, says he will only be allowed to leave for the right price.
"His representatives have made it clear he won't sign a new contract next year and we have offered him the best contract at the club," Warnock explained.
"We're not going to let a situation like Hudson (Mark) develop where we get nothing for a player.
"With one year left his value's not the same, we would have valued him at £2m-£3m if he'd had two of three years left on his contract."
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