Peterborough manager Darren Ferguson is refusing to pay over the odds for Grimsby defender Ryan Bennett.
The 19-year-old was the subject of an inquiry from Posh director of football Barry Fry last week, prompting Grimsby chairman John Fenty to reveal Bennett has triggered the option of a two-year extension to stay at Blundell Park.
"We tracked Grimsby defender Ryan Bennett for months," Ferguson told the Peterborough Evening Telegraph. "But he signed a new contract which entitled them to ask for a fee and they wanted Â£1million, which was quite ridiculous."
He added: "That has happened to us a couple of times in the past when we were quoted big fees, only for the players to move for much less to different clubs.
"Hopefully, now we are one of the smaller clubs in the Championship, we will be quoted more realistic transfer fees for players we are trying to sign."
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