Derby chairman of football Adam Pearson said: "The goal-posts have moved - the price has gone up and we are not prepared to pay it. This is not acceptable. We will not be held to ransom.
"We have formally withdrawn our offer and will watch the situation. It is disappointing because negotiations have been going on for a long time. We felt a deal could be done and the player has said he wants to come to Derby County."
Swansea boss Roberto Martinez is known to want the sage brought to a swift conclusion.




