Leicester Tigers CEO Simon Cohen has said that Martin Castrogiovanni's proposed transfer to French giants Toulon is still far from a done deal.
Following rumours that the wealthy Top 14 side are looking to bring in the Italian international to their already strong front-row group, the Tigers are standing firm on getting the right price for a player who has another year left to run on his contract.
"We have always said that there needs to be two elements in place for any transfer to go ahead," Cohen told the Leicester Mercury on Tuesday.
"Firstly, we need a satisfactory transfer fee and, secondly, Martin Castrogiovanni needs to come to us and say that he wants to leave.
"We have had an initial and preliminary discussion with Toulon about a transfer fee and there is no agreement in place at this moment.
"We won't have a discussion with Martin Castrogiovanni about what he wants to do until an agreement is in place."
Leicester will face Toulon in their Heineken Cup quarter-final in April and Cohen added that if no deal is reached they would be delighted to keep hold of their Azzzurri prop next term.
"If we fail to reach an agreement with Toulon, then Martin Castrogiovanni will see out his contract with us," added Cohen.
"That would be excellent news for us because he is an extremely talented player and an icon at this club."