The Sweden striker, who has been heavily linked with Manchester United and is also a reported target for Arsenal, has an £84.7m release clause in his Sporting contract.
It has been reported, however, that the player believes he has a verbal agreement with the club whereby he can be sold for a fixed fee of £50.8m plus £8.4m in add-ons.
Varandas has denied such an arrangement exists but says the club did promise the 27-year-old they would not hold out for the full value stated in the release clause.
Varandas says this was discussed at a meeting between club officials and Gyokeres’ representative last year.
The club president told reporters in Portugal: “What was agreed? That Sporting would not demand a release clause now. For one reason – he was going to be 27 years old and no player leaves Portugal at 27 for 100 or 90million euros.
“In that same meeting, the agent wanted to anchor the exit to a value. I said this sentence: ‘It’s not worth us setting a value because I don’t know what will happen in a year’s time. I don’t know if it will be 40, 60 or 80. What I can guarantee is that I will not demand 100million euros’.
“From then on, I never spoke to the agent again, I never spoke to the player about departures or values.”
Gyokeres, who has previously played in Britain with Swansea and Coventry, has scored 97 goals in 102 appearances for Sporting in all competitions.
