West Bromwich Albion have rejected a £2.5m bid from Manchester United for goalkeeper Tomasz Kuszczak.
The Baggies say they are not interested in selling unless United agree to allow striker Giuseppe Rossi to move to the Hawthorns on loan for a season.
Albion chairman Jeremy Peace said: "At this moment in time, selling Tomasz to United is not a viable option.
"It would severely weaken our squad at a time when we are trying to strengthen it for a promotion push."
Peace said United have told him that Rossi would not be joining anyone on loan.
"It means if we sold Tomasz to United, without Rossi coming in return, it would potentially cause us more problems without solving any - despite the receipt of cash," said Peace.
The Baggies have previously rejected two offers from United for the 24-year-old Polish international.
Peace admitted: "This will come as a disappointment to Tomasz who has indicated to us he would like to join United.
"But it is the board's job to do what is best for this football club and we will not sell Tomasz unless the deal suits us.
"Because of the way this football club is structured, we are under no pressure to sell anyone. Tomasz will only be sold if it is in our interests to do so."
Kuszczak joined the Baggies in July 2004 from Hertha Berlin.