Fleetwood has scored 21 league goals this season (Getty Images)

Baker told BBC Radio Gloucestershire: "Forest Green have confirmed that the offer was nowhere near their valuation.

"We understand there has been interest from Championship clubs in Fleetwood and we are not going to be able to compete with those sort of clubs.

"I don't thing that one is going to go any further unless something changes."

Fleetwood has scored 27 goals in all competitions so far this season and has also attracted the interest of Gillingham.

But Forest Green chairman Colin Gardner says he wants to keep the 21-year-old at the New Lawn.

Gardner told BBC Radio Gloucestershire: "Stuart is a sensible lad, he's down to earth and I don't see any problem with him at all. I want him to stay here.

"It may be that is the wrong decision but I would like to see him here with everyone else so that we end up in the play-offs."

Cheltenham have also had an offer for Exeter City's Jamie Mackie turned down and are considering making a fresh approach.