Midfielder Steve Sidwell, who was a key part of Reading's promotion campaign last season and has one year left on his contract, has rejected a new deal.
Sidwell helped Reading to the Championship title last season
Director of football Nick Hammond also revealed that Sidwell did not have a minimum fee release clause.
"We have no intention of selling Steve and have no doubts about his commitment to the club for next season," he said.
"We understand his position and he understands ours but as yet we've not been able to come to an agreement".
Former Arsenal trainee Sidwell, 23, has scored 25 goals in 133 league appearances for the Royals.
There was a release clause in the contract he originally signed when he joined Reading in January 2003, but Hammond insisted the club were keen to hold on to the player.
Manchester City and Charlton are both thought to be keen to sign Sidwell.