Watford manager confirms 'derisory' Newcastle United bid for Joao Pedro – but offers transfer hope
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And Edwards confirmed: “The bid that has come in that's been talked about, it's not anywhere near the level that we'd expect it to be for him.”
While United aren’t considering getting close to Watford’s valuation, they are preparing an improved offer in the region of £25million plus add-ons.
It is unclear whether Watford will accept a fresh bid from Newcastle as manager Edwards is keen to keep the player at Vicarage Road this season.
But The Hornets boss has admitted that an improved offer would at least be considered by the club.
He added: "If anything else was to come in again, then we'll sit down and talk about it as a club and as a board."