The Irons are believed to have offered around £1 million plus add-ons for the midfielder who has been talked up as a target for Manchester City, Barcelona and Real Madrid.
But the Hammers refuse to buy into the Mallorca hype that the 18 year old is already in the 5 million euro bracket and will only move in again if the price comes down to something “more sensible.”
Asensio came to prominence with the Spanish outfit and still has it all to prove despite being hailed as the great hope of Spanish football.
It’s unlikely the Spanish Segunda Division club will be ready to lower their price for a player on whom they have pinned such great hopes but the Hammers won’t be raising their offer.
A source told ClaretandHugh: “We were interested but the club’s price was too high for a guy who is effectively no more then a Spanish Championship player.”
He added: “You always get talk of the likes of Manchester City and Barcelona being interested in these guys – it rarely turns out that way though does it?”