The former Lyon star has emerged as one of the top targets for Pep Guardiola as he looks to strengthen his treble-winning Manchester City squad.
West Ham do not want to sell the midfielder but the player believes that the club will let him go for the right price.
Their initial approach, coupled with a verbal offer of €80m, was knocked back by the east London club.
And according to French outlet Foot Mercato, the reigning Premier League champions made a second verbal offer of €101m for the midfielder.
But it has been claimed that West Ham have rejected that offer as well as they hold out for more money.
It has been claimed that negotiations are still ongoing and the Hammers want Manchester City to hit the €110m figure.
West Ham sold Declan Rice for €120m earlier in the transfer window and have not been planning to sell Paqueta.
But the Brazilian wants the move given the fact that the suitors are Guardiola and Manchester City this summer.
