The Egyptian Premier League clubs have backed their interest in the 23-year-old winger with formal bids but the Terriers are yet to make a decision.
Sobhi has spent the last one-and-half seasons on loan at Al Ahly after struggling to settle in at Huddersfield in 2018.
Devlin said they initially accepted Al Ahly’s bid but Sobhi does not want to stay with the Red Devils, while Zamalek and Pyramids’ offers were below their valuation.
"This started well before the loan period was due to come to an end and we began to discuss with Al-Ahly whether they wanted to purchase Ramadan permanently,” Devlin told On Sport.
"They were looking to extend the loan and we were keen for this not to happen: we really felt it was right for the player and for Huddersfield that the loan became permanent.
"Then we received an offer from Al-Ahly a few weeks ago now to purchase the player, which we accepted. We've enjoyed our working relationship with Al-Ahly and accepted the offer as we felt it was fair and at that time we also thought it was something the player would like to do.
"It is up to the player where he wants to play his football [and after the offer was made] Ramadan decided that he wanted to play elsewhere and made us aware of that.
"We were surprised at first but the player has the absolute right to look to play football where he wants to play. We have had offers from other clubs in Egypt and we've also had some big offers from clubs who play in the Champions League but are not in Egypt.”
Devlin disclosed Sobhi’s desire to continue his playing career in Egypt but Huddersfield Town are yet to get a club that matched their demands.
"My understanding is that Ramadan would like to play in Egypt. We have had a couple of other offers, some from clubs officially and some through intermediaries and agents, but at the moment we have not accepted any of them,” he continued.
"But the bid from Pyramids was well below our valuation and well below the offer made to us by Al-Ahly, bearing in mind we have already received substantial money from Al-Ahly in a loan fee last year. We felt [Al-Ahly's] figure of £3.25m was fair from that point of view.
"Pyramids' offer was well below that. We've also had a substantial offer from Zamalek of £3.6m
"Our valuation of the player is much more than Pyramids have offered. My understanding is the player would like to play for Pyramids but their offer is the lowest of the offers we've received and is not something we will agree to," he added.
"It's really now up to the player now to make a decision about where he wants to play his football, and once he's made that decision we will need to negotiate hard with that club to try and make that transfer work."
Sobhi scored four goals in six Premier League games for Al Ahly this season with his last outing dating back to December 2019.
While Huddersfield Town await the 23-year-old's decision, Devlin revealed an offer of £5 million from a club outside Egypt, which is near their asking price.
"I must say to you that we have a valuation for Ramadan and we've been offered over £5m from clubs outside of Egypt, he concluded.
"That is nearer our valuation but we also want to try and be fair to the player as well.
"So the player must make his mind up now where he wants to go and then we will see whether that club is prepared to negotiate with us."