Crawley have slapped a £1.5million price tag on Kyle McFadzean in a bid to scare off potential suitors.

Reds took up the option of a one-year extension on McFadzean’s contract at the end of the season which will keep him at Broadfield Stadium until next summer but the defender is stalling on signing an improved two-year deal.

Two Championship clubs have made approaches for the 25-year-old but have yet to meet Crawley’s asking price of £1million up front with a further £500,000 in add-ons.

Peterborough previously tried to sign McFadzean together with striker Tyrone Barnett in January but their joint £1.9million bid was turned down.

Barnett has since joined the Championship outfit and Posh are likely to renew their interest in the former England non-league international.

McFadzean, who was included in the League Two team of the season, said: “I don’t know what I am going to do yet. We are just negotiating now over a new two-year contract and if the deal is right I will probably sign but if it isn’t I won’t.

“I’ve got another year here and am happy to stay because we are in League One and that is a good standard but I do want to test myself at a higher level so we will see what happens.

“Don’t get me wrong, I am happy at Crawley but if the opportunity came to move into the Championship that would be hard to turn down.

“I like living down here in Crawley but I am not getting any younger and I need to think about my future.”