Will Hughes has yet to sign a new contract with Watford.
The Hornets have put forward a five-year offer to the dynamic central midfielder.
However, the Watford Observer says Hughes is unhappy with what he has been offered.
The 26-year-old is happy at Vicarage Road and has not given up on an extension.
But Watford might decide to cash in this summer if a new deal can't be agreed, with Newcastle United and Aston Villa interested.