Marcel Brands has denied reports that PSV have tabled an improved bid for Heerenveen forward Luciano Narsingh.
According to a report in Voetbal International on Tuesday, the Eredivisie giants had moved to the front of the queue for the 21-year-old's signature after increasing their initial offer.
However, Brands has now rejected such stories and insisted that his side will not pay over the odds for the young Netherlands international.
"This is nonsense, I do not know where this news has come from," the sporting director told Eindhovens Dagblad.
"Nothing has changed. As I said before, everyone knows what is possible."
Narsingh, who has one year left on his contract with Heerenveen, is reportedly valued at €6 million by his club.