First it shows his expectations e.g. He would like a weekly wage of 10k and a sign on fee of 300k, I put exactly that and then the player rejects it and then says he does not believe the club can match his demands.
I'm currently playing as Ajax and whenever I want to sign a player I offer the amount he wants, but then he rejects and then the next contract offer screen says he does not believe the club can match his demands. This happens with every player. My board lets me have wages up to 33K per week, and one CB I wanted to sign wanted only 10K, and yet this happened. Btw. This has occurred on multiple saves with the same club.