Montpellier turn down Newcastle's Cabella bid
"Over the past ten days we've received two or three offers, including one of eight million euros which does not meet our expectations," club chairman Laurent Nicollin, in charge of recruitment, said.
"The president had talked about 15 million euros," he added referring to club president Louis Nicollin.
Cabella, already a Newcastle target during the winter break, has been promised he can leave in June despite his contract running until June 2016.
He made his debut for the France national side during the 4-0 friendly win against Norway on Tuesday and is among six reserve players for the World Cup in Brazil.
He scored 14 goals and had five assists for Montpellier this season, as the southern outfit, with whom he won the 2012 Ligue 1 title, finished 15th.
Newcastle have a strong French contingent including Mathieu Debuchy, Hatem Ben Arfa and Moussa Sissoko, and signed defender Mapou Yanga-Mbiwa from Montpellier in January 2013.