Leicester City chief executive Lee Hoos has warned Swindon that the Foxes will not pay over the odds for in-demand striker Simon Cox.

League One’s title winners have already seen one bid knocked back for Town’s prolific front man, who netted 32 goals last season, and there are rumours it is just a matter of time before their interest is reignited.

With Derby County and West Bromwich Albion also believed to be tracking Cox, Town chairman Andrew Fitton has made no secret that he values his star asset at around £2.5million.

However Hoos insists Leicester won’t pay that sort of fee for a player yet to prove himself in the higher reaches of the Football League.

“That is pretty steep for a League One player,” said Hoos, of Swindon’s valuation.

“We know where we need to shore up, but we are trying to get things done within reason.

“It is not a case of having an unlimited amount of money, market conditions are tight and we are trying to do the best we can with it.

“There are a number of players we are looking at, and I won’t talk about a particular one, but if the chairman of Swindon says he received an offer from us, who am I to argue?”

Fitton revealed there have been no further concrete offers for Cox, following the three bids they received earlier in the summer, but admitted the forward has been the subject of much talk from rival teams.

“The clubs who have been talking to us about Simon Cox have been talking to us about him for some weeks,” said the chairman.

“There are conversations going on between managers and chairmen all the time, pieces of the jigsaw being moved around. And then eventually something comes to fruition if it is the right thing to do.

“You can rest assured that those conversations have gone on, but at this moment in time Simon Cox remains a Swindon player and as far as I’m concerned an offer isn’t an offer until a fax arrives on the floor.

“Simon Cox is a Swindon Town player and has done a great job for this club so far. He wouldn’t be unhappy if he was still a Swindon Town player next season.”