Arsenal has been linked to a €8 million winter transfer for Marcelo Brozovic, who is a 22-year-old midfielder on Dinamo Zagreb.
Brozovic is primarily a playmaker, but can be deployed in a more defensive role.
Arsenal scouts recently watched him play in Croatia's Euro 2016 match against Italy.
Zdravko Mamic insists Arsenal or any other clubs interested in Brozovic will have to come up with a significantly bigger number than that to stand a chance of signing him.
"We have no offers," he told sportski.net.
"If someone wants one of our key players, it can only be with a memorable bid, if they knock me off my feet [an offer too good to refuse]. That is my principle. And the numbers appearing in the media do not interest us."
Atlético Madrid have also been interested in Brozovic.