The Hornets have still not accepted any offers for Troy Deeney despite an increased bid from a Premier League side, the Watford Observer understands.
Deeney has been the subject of several offers this week but none have yet matched the Golden Boys' valuation.
Leicester City, Burnley and Swansea City have all submitted offers in recent weeks but all of them were turned down.
We understand a Championship club also made a bid and the biggest offer so far has come from another Premier League side not listed above.
Everton were watching Deeney towards the end of last season but we understand they have not submitted a bid.
Queens Park Rangers are interested in the player and so are Norwich City but it is unclear whether they were the two teams who made the other offer.
The Hornets have refused to name an asking price during negotiations, stressing they are keen to keep hold of their captain.
But like all players, the club have a valuation for the striker which if matched would see the offer accepted.
We understand Deeney would not be keen on a move to another Championship club and would want regular first team football if he was to join a Premier League side.
Tottenham Hotspur expressed an interest in Deeney last summer but the former Walsall man was not keen on the switch due to the likelihood he would become a squad player.
Hull City were the only club to bid for Deeney last summer but the offer, believed to be around an initial £6m, was rejected by the Golden Boys.
A contact had suggested the 26-year-old's departure was "inevitable" after he claimed clubs had matched the required fee however, that has today been denied by two other sources.
Both denied Watford's valuation had been met and one highlighted that even if a fee was eventually agreed, deals can always collapse at any time.