David O'Leary regards Craig Bellamy as an essential part of the Aston Villa jigsaw but says that no deal will be done within the next seven days.
Doug Ellis, the Villa chairman, last week claimed to have agreed a fee with Newcastle to sign Bellamy, the Wales international striker, and Aaron Hughes.
In what was seen as an embarrassment to Villa, Newcastle refuted Ellis's claim, although Hughes did move to Villa Park for a fee of £1.5 million.
Bellamy has played on loan with Celtic since January after turning down a move to Birmingham City.
Celtic and Everton have already confirmed their intention to make an offer for Bellamy. O'Leary, however, says he is making a genuine attempt to bolster his own strike-force.
"I'd love to have a player like Craig Bellamy at Villa, but nothing can happen on that at the moment," O'Leary said. "We need to know the wages he wants and everything else."