Reports of Norwich City valuing Nathan Redmond at £15million to 'scare off' interest from potential suitors are understood to be wide of the mark.

The Mirror claim City 'have slapped a staggering £15million price tag on winger Nathan Redmond to scare off interest' from Premier League rivals, including Crystal Palace.

Sources close to the Canaries suggest the England Under-21 international is not for sale however, with no bids received for Redmond since the January transfer window opened.

Redmond is City's current top scorer, with four goals in 20 games, and has proved a popular player at Carrow Road since joining from Birmingham City in a deal reportedly worth £3.2m in the summer of 2013.

Although he was part of the team which was relegated from the top flight in 2014, he remained with the club despite being linked with a host of Premier League teams.

In total the speedy 21-year-old has scored 11 goals in 106 matches for Norwich, including one of the goals which fired Alex Neil's team to promotion in the Championship play-off final at Wembley.

With Redmond's contract due to expire in the summer of 2017, the Mirror report also claims City have offered the winger a new long-term deal but that he is 'in no rush to commit'.

The report states that Palace have the Canaries star on their list of possible replacements for highly rated winger Yannick Bolasie, should he leave Selhurst Park in the summer.

City boss Alex Neil was recently asked about potential new contracts in his pre-match press conference ahead of the club's clash with Tottenham Hotspur on Boxing Day.

Asked specifically about Redmond and experienced midfielder Gary O'Neil, whose contract expires this summer, Neil said: 'We've got plans in place in terms of going forward.

'Obviously Nathan is in a completely different situation to what Gary would be. Gary's in the later end of his career and Nathan is a young lad who has got a huge development in front of him.

'We will be taking that into account and trying to deal with that in the background but obviously there's no news as such at the minute, but we won't be leaving it until the last minute when they're out of contract.'

The same Mirror report also adds a new name to the long list of players already linked with City during the transfer window, that of Wolfsburg defender Timm Klose.

The German-born Switzerland international centre-back, 27, has been a bit-part player for the Bundesliga club but did start their last match before the winter break, a 3-1 loss at Stuttgart.