PREMIERSHIP clubs chasing Blackburn Rovers striker Chris Sutton will have to start the bidding at around £12 million.
The Ewood striker triggered a release clause in his contract in meetings with manager Brian Kidd and chief executive John Williams last week.
But Sutton will only be allowed to leave if the price is right.
London giants Arsenal, Chelsea and Spurs have all been linked with Sutton, while Aston Villa and Middlesbrough have both expressed an interest.
Rovers do not want to sell their prize asset.
And, while the clause in Sutton's contract has allowed him to make a transfer request, there is also a clause written in to protect the club's interests.
Offers must start at a minimum figure of more than £10 million.
Williams today confirmed that no concrete offers have been made but preliminary discussions have already been held with chasing clubs. Williams said: "There has been talk that Chris was called to a meeting by the club and given an ultimatum.
"For the interests of clarity, he asked to see us.
"At this point we must underline our total commitment to getting Blackburn Rovers back into the Premier League within one season. We also recognise the need for good players within a strong squad to achieve that goal.
"But the simple fact is that Chris has a get-out clause in a contract which was agreed in all good faith and, although obviously disappointed, we will stand by his right to bring that clause into play.
"There are conditions associated with the clause which do remain private.
"We are now prepared to talk to interested parties about a possible transfer deal, working with the best interests of the club at the top of our agenda."
Williams was also keen to stress that the unsettled situation of Tim Flowers differed from that of Sutton.
He said: "Following our initial rejection of his transfer request, we made it clear that we wouldn't stand in his way if an offer came in.
"However, in view of Tim's long service and the unique position of goalkeepers, we also said that, come the end of the season we would not stand in his way if he still wished to move on.
"That remains the situation and, again, we are prepared to listen to offers from any interested parties."
Kidd is still in the process of formulating the fine detail of his squad plans for next season.
And Rovers will not want to off load other players before those plans are put into operation.
But Steve Harkness is a target, with Rovers weighing up a bid in the region of £1m for the full back.
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