Sunderland have been looking to complete a deal for Blackburn forward Rhodes.
The Wearside outfit have been attempting to bring the Scottish striker to the Stadium of Light, having seen the 25-year-old net 73 goals in 144 games for the Championship club.
The report states that Sunderland had been hoping to tempt Blackburn into selling Rhodes with an offer of £8 million plus a player in exchange - likely Danny Graham or Will Buckley.
Despite their respective struggles in the Premier League, both Graham and Buckley are proven stars in the second tier, and that deal would see Rhodes valued at over £10 million when the fee and players are totalled together.
Middlesbrough saw a £14 million offer for Rhodes rejected this summer, but the Black Cats believe their approach would be more enticing due to the player exchange deal involved.
However, the Wearside outfit have been dealt a blow in any potential deal for Rhodes this summer, with the report indicating an issue preventing Blackburn from completing a player exchange deal.
it is stated that the embargo placed upon Rovers for failing FFP means they cannot bring in players as part of an outgoing deal, with any transfer having to be a straight up cash payment.
Considering Boro have already had an offer of £14 million rejected for Rhodes, it is likely that Sunderland will have to approach Blackburn with an offer of over £15 million if they want to now complete a deal for the striker.