Preston chairman Derek Shaw said: “We have received a bid from Fulham which is close to the fee what was reported in the press earlier this week but that bid has been rejected.
“A lot of the fee is based on appearances and for Preston North End to receive the full fee Carlo Nash would have to play 80 games in the Premiership.
“We do not believe Fulham’s offer meets our valuation of the player and selling him for that price not would not only leave us in a difficult situation in the short-term but we would also find it almost impossible to find a suitable replacement for the money received.
“As far as we are concerned that is the end of the matter.”
