Inter Milan had previously tabled an opening bid of €20m for the Liverpool midfielder, which was also knocked back. Their revised proposal of €25m has met the same response, with Liverpool demanding around £35 million — approximately €40m — and also seeking a percentage on any future resale as part of any agreement.
Jones has one year remaining on his Liverpool contract, a situation that gives Inter encouragement that they can acquire the England international below market rate. Liverpool, however, are unwilling to be pressured into a cut-price exit and appear prepared to let him run into the final 12 months of his deal rather than accept an offer they regard as insufficient.
The deal is proving difficult to move forward despite the player's own interest in the switch, with the gulf between what Inter will pay and what Liverpool will accept remaining the central obstacle.
Liverpool feel Jones is worth significantly more than Inter are prepared to offer given the current midfield market, and find Inter's approach so far short of their valuation that they have not encouraged further talks at the current level.
The situation is complicated by a potential sell-on clause, an element that adds another layer of negotiation beyond the headline transfer fee.
Whether Inter can bridge the gap or look elsewhere — Manu Koné of Roma has also been mentioned as an alternative — will determine how quickly this particular pursuit reaches a conclusion.