Mears was part of the side which made the play-offs last season
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Preston chairman Derek Shaw has denied claims from Tyrone Mears' agent that they have received a £3m offer for him.
Willie McKay said a Premiership club had bid 15 times what North End paid - 200,000 - for the right-back, 23.
But Shaw told his club's website: "We have had an offer but only £550,000 more than we paid. This has a further £600,000 to be paid over games.
"But this could take three years or more and then £250,000 if that club gets a European place."
He added: "These figures are not suitable. The offer is certainly not 15 times the £200,000 we paid for Tyrone.
"There are sell-on clauses to Manchester City to take into consideration as well."