And if that's the case there's no way that anyone, let alone West Ham, will be signing him.
Even Man City would deem that valuation out of hand!
Yakubu has divided opinions since he joined us from Middlesbrough in 2007 and his detractors have cited a perceived lack of effort as his biggest problem.
But we've only really seen him at his best for one season and, lack of effort or not, his 21 goals in the 2007/08 season can't be overlooked.
The following season was sadly cut short due to a ruptured achilles and he's never looked the same player since!
It was reported a couple of weeks ago that Avram Grant would want to sign Yakubu when he eventually took over at West Ham and it's thought that Everton rejected an initial bid of £5 million from the Hammers.
Latest reports suggest that the Blues have turned down an improved offer of £7 million from West Ham as David Moyes is holding out for a bid in excess of £10 million.
Which just isn't going to happen, Moyes did well to fleece Man City over Lescott - even if it was, ultimately, to the detriment of our season - but a bid of £7 million for Yakubu seems fair.
But nothing's going to happen until after the World Cup anyway so we may as well just suffer ITV's coverage for a couple of weeks then get back to business!