Sheffield Wednesday have told Norwich City they must honour the £7m fee agreed last summer if they want to sign Jordan Rhodes permanently.

The Canaries are keen to sign the 29-year-old, who was a hit during his season-long loan at Carrow Road.

City had a buy option inserted into the original deal but are keen to renegotiate a reduced fee as Rhodes enters the final 12 months of his contract.

However, Wednesday have told City they must pay up if they want Rhodes to be part of their Premier League campaign next season.

It is understood this may just be part of a negotiation process with Wednesday keen to usher Rhodes and his lucrative contract out of the exit door.

Wednesday could hope that another club enters the bidding process but Rhodes and his young family are happily settled in Norfolk and he is very keen to stay with Norwich next season.

Both sporting director Stuart Webber and head coach Daniel Farke are fans of the popular forward, who adopted cult status at Carrow Road during their Championship title-winning season.

MORE: City target should stay put, says WhelanBut their interest doesn't go to any price and £7m up front is well beyond what the club is willing to pay. Wednesday are likely to assess the market to see if any other clubs make their interest known before getting back round the negotiating table.

Norwich are in the market for a new forward but the club are acutely aware that any striker that expects to challenge for a starting role ahead of player of the season Teemu Pukki is going to blow a massive hole in City's reported £20m transfer kitty.

Rhodes was prepared to play second fiddle to the Finn last season but still managed to score important goals against the likes of Aston Villa, Millwall and West Brom despite being restricted to a substitute role for much of the campaign.