The Brazilian international rebuffed the prospective new deal from the 2011 Copa Libertadores champions, and is reportedly demanding over double what has been put on the table
The playmaker's current deal at the Vila Belmiro is not set to run out until 2015, but his future has become increasingly uncertain after rejecting an offer close to €140,000 per month.
According to Lance!, the Brazilian is demanding a monthly salary of €400,000, more than double Peixe's offer.
"I didn't like the offer, I thought they would offer something better," Ganso told Lance!.
"Regardless of that, you have to keep your cool to play football and let these things happen naturally.
"I don't know what will happen [now]. Only God knows it. I hope I can remain calm to keep playing on the pitch."
The news is likely to alert many European clubs, with Porto said to retain a keen interest in the young playmaker.
Despite the contract wrangle, Ganso is expected to feature against Gremio on Sunday as Santos look to lift themselves out of the relegation zone. Due to Copa Libertadores commitments, the club had been using a reserve side during their initial Brasileiro games.