Zenit St Petersburg have denied lowering the asking price of Tottenham target Andrei Arshavin.

The striker's potential move to Spurs appeared to be revived when reports in Russia suggested they would slash the €30million price tag to €24m - much closer to what the Premier League club would be willing to spend.

But Zenit have hit back, with spokesman Alexei Blinov branding these rumours "untrue".

The club's sporting director Konstantin Sarsaniya said: "The situation has not changed. Tottenham offered us €20m for Andrei, but that does not work for us. We are waiting for a new proposal."

Spurs are certainly not lacking funds having recently sold Robbie Keane to Liverpool and boss Juande Ramos will find himself short on forward power should Dimitar Berbatov leave White Hart Lane.

David Villa was regarded as another possibility but, as with the case of Arshavin, Valencia's €38m valuation is just too steep.

However if Berbatov stays, Ramos could well decide to spend any more money elsewhere considering Giovani dos Santos' encouraging pre-season performances behind a revitalised Darren Bent.