Swans chairman Huw Jenkins confirmed the rejection of Wigan's latest undisclosed renewed offer on the club's official website: "The way it is structured - over such a long period of time and appearance related - it doesn't even constitute an offer.
"It certainly doesn't come anywhere near our valuation, especially when we have no intention of losing him.
"The terms of the payment have improved, but our stance on Ferrie remains the same and the offer has been rejected.
"Ferrie is edging closer to full fitness and we are looking forward to seeing him pull on a Swansea shirt again and bolstering Paulo Sousa's squad."
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