West Ham target Marko Arnautovic will only be sold 'if terms are right', says Stoke chairman Peter Coates

Stoke City have warned West Ham they will only sell Marko Arnautovic if the price is right after rejecting an initial bid from the Hammers.

Standard Sport understands that the initial bid was worth around £15million, with Stoke since confirming that they had rejected an offer from their Premier League rivals.

Slaven Bilic was interested in the Austrian international last season and his arrival would bring the pace and power the West Ham boss has been keen to incorporate into his frontline.

It would also sate David Gold's professed desire to add experienced Premier League players to the squad, with particular focus on upgrading West Ham's attack.

The 28-year-old forward has handed in a transfer request to force through the departure but chairman Peter Coates has insisted that Stoke will not be pressured into letting Arnautovic leave.

"We have received a bid from West Ham for Marko and it was turned down," Coates told the Telegraph.

"[Stoke manager] Mark [Hughes] is planning to meet with the player and hopefully he can find a positive resolution, as he did last year.

"We will only sell Marko if the terms are right but he's not a player we want to lose."

West Ham have found progress in the transfer window frustratingly slow since completing the signing of Pablo Zabaleta on a free transfer earlier this summer.

They look set to miss out on Arsenal's Olivier Giroud and Bilic pulled the plug on a deal for Manchester City striker Kelechi Iheanacho due to fears over whether the Nigerian international could make the step up from a squad role at the Etihad.

The likes of Michy Batshuayi of Chelsea and Andre Gray of Burnley are up for discussion at the London Stadium as they hunt for a new striker.