Chelsea want €15 million for Mikel and the Nigerian international asked for €5 million per-season on a four-year deal.
The deal in total would have set the Yellow Canaries back €35 million over the course of four-seasons. The Istanbul giants have now pulled out of the deal and will not be pursuing the 28-year-old midfielder.
“We made an enquiry for Mikel, the deal would have cost a total of €35 million. €15 million transfer fee to Chelsea and €5 million per-season on a four-year deal for the Nigerian international,” Yıldırım was quoted as saying by Turkish-football.com in a press conference at the Topuk Yayla training grounds.
Mikel played a total of 26 games for the Premier League winning side last season but fell behind Matic in the pecking order but Chelsea’s high valuation is a sign that the Blues are keen on keeping hold of his services next season.
Fenerbahçe are reported to be interested in signing an additional central midfielder following the departure of Emre Belözoğlu.
The Yellow Canaries will have made eight signings already this summer following the arrival of Robin van Persie in Turkey on Sunday.
The Yellow Canaries finished last season in second place and secured a place in the Champions League play-off stages. Fenerbahçe are currently coached by Vitor Pereira who replaced Ismail Kartal as manager last month.