"Basel" president Bernhard Heusler confirmed that the club has rejected the offer from "Wolfsburg" for striker Breel Embolo.
The 18-year-old Swiss has attracted the attention of the German giants due to his excellent play and rapid improvement over the past few seasons.
"Manchester United" and London's "Tottenham" were also linked with the forward, but earlier this month "Wolfsburg" sporting director Klaus Allofs spoke about ongoing negotiations.
"After considering all aspects of the offer, we decided to reject it due to not agreeing on the economic conditions," Heusler told Bild, according to which "Wolfsburg" was planning to offer 27 million euros.
"Of course, this offer is very interesting to him (Embolo), but he accepted the club's decision as a true professional."
Embolo scored eight goals this season in all competitions.
