Derby striker Rob Hulse turned down a deadline-day move in favour of remaining at Pride Park.
Rams chairman of football Adam Pearson revealed the club received a bid - believed to be from Coca-Cola Championship rivals Middlesbrough - in excess of £4million.
Pearson said: "Rob Hulse is staying with us and we are all absolutely delighted about it. One club in particular made very significant advances and we felt it was only fair to the player to keep him informed throughout the day."
He added: "In the end Rob has decided that his future belongs here at Derby with Nigel Clough, as he and his staff look to build this team into one that can bring success.
"I'm sure Rob Hulse will go on to be a very important player for us and we all look forward to seeing him produce the quality of football he did last season, when he was our top scorer and player of the year."
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