PSG chiefs are adamant Neymar will only leave on their terms.
While confirming a willingness to sell the wantaway Brazil captain, PSG insist he will only be sold for the right price.
PSG have rejected offers from both Barcelona and Real Madrid in the past week.
A board source told L'Equipe: "The conditions for accepting a departure for Neymar have not been met..."
PSG are seeking to make back the 222m they paid Barca for Neymar two years ago.
Real's latest offer is for 100m cash plus Gareth Bale, James Rodriguez and Keylor Navas.
