The Portuguese champions' have been told to up their offer for the 22-year-old playmaker after their first attempt fell short of the club's valuation of the Brazil internationalSantos president Luis Alvaro Ribeiro has revealed that he has turned down an offer from Porto for midfielder Ganso.
The Europa League holders are in the market for a new central midfielder as Fredy Guarin's day at the club are believed to be numbered.
Olympique de Marseille confirmed on Thursday that Porto had made an informal approach for Lucho Gonzalez, who has grown unsettled at the club, but the Argentine midfielder appears to be second to Ganso on the Portuguese side's shortlist.
"We have no interest in opening talks with what was offered," Ribeiro told Arena SporTV. "Proposals like these are comical, not to say tragic.
"I would say there was a typo, they forgot to put one zero in their bid.
"But I will respond to their offer on Monday, saying we have no interest and I will send a copy to the company which owns part of his economic rights."
Earlier in the month, the Santos president admitted that his side were ready to listen to offers for Ganso if the 22-year-old wished for a new challenge.
Porto and Santos have been involved in several deals in the last year, with the Portuguese champions signing Alex Sandro and Danilo, while the Copa Libertadores champion recently landed Jorge Fucile on loan.
The Uruguay international, who has joined Santos until December, arrived in Sao Paulo on Friday and will undergo a medical before the end of the day.
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