West Ham have rejected an improved offer for striker Craig Bellamy from Premier League rivals Manchester City.
City's second bid was for £9million.
But Hammers chief executive Scott Duxbury maintains the club do not need to sell their best players during the winter transfer window.
City boss Mark Hughes confirmed on Thursday that an initial bid for Bellamy and Hammers team-mate Scott Parker had been turned down.
The Eastlands club, backed by the financial muscle of owners the Abu Dhabi United Group, have since returned with an enhanced package for the Wales international.
But the Upton Park club are determined to retain the services of their star striker and have again rebuffed the approach from the North West.
Bellamy was on target for West Ham in their 2-2 draw at Newcastle on Saturday and is an integral member of Gianfranco Zola's plans.
Hughes has money to spend in the transfer window and has already bolstered his squad with the arrival of full-back Wayne Bridge from Chelsea.
Blackburn striker Roque Santa Cruz is also a confirmed target for City, but Rovers are unwilling to part with the Paraguay international.
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