The 'poor' offer that came in for Sheffield United defender

Lowe impressed on loan at Nottingham Forest last season, helping Steve Cooper's men end their long wait for a Premier League return by winning the Championship play-off final.

Forest have retained an interest in the 25-year-old since as they look to reshape their squad for the top-flight, but have yet to follow up on their bids of £1.5m and £2m in January that were flatly rejected by the Blades.

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In an interesting twist to the saga, Olympiacos then entered the race for Lowe's services. The Greek giants are owned by Evangelos Marinakis, also in charge of Forest, but the bid submitted by officials at the Karaiskakis Stadium has been dismissed as "poor" by Blades chief Paul Heckingbottom.

Lowe has linked up again with his Blades teammates for pre-season and coaching staff have been pleased with both his performances and attitude in the sessions so far.

"Olympiacos made an offer for Max, but it was poor," confirmed Heckingbottom, who has received no other concrete bids for any of his other players so far this summer.

"Max was great last season at Forest and we were in contact all the time, we wanted him here.

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"He's come back in really good nick and we are pleased."

United informed Forest in January of their valuation of Lowe, which is now thought to be in the £5m bracket after he helped Cooper's men win promotion to the top flight.

As things stand, he will begin the season as a Blade and compete for the left wing-back spot with Enda Stevens and Rhys Norrington-Davies.