The 24-year-old arrived in Italy in 2010 and has emerged as a real talent which has seen the likes of Inter Milan and Lazio linked in recent weeks.
The midfielder is also attracting interest from England but it appears that Chelsea and Liverpool, who were linked to him last season, are not the clubs to have made a bid.
Amir Ruznic describes the bid as being from a 'solid mid-table club' from England.
"I can confirm that Palermo got an offer from one of the Premier League clubs," Ruznic told Zurnal24.
"But Palermo president Maurizio Zamparini immediately rejected it. He really didn't want to hear about all this.
"I can't tell you which club wanted Josip, as they could return with another offer. But I can say that we are talking about a solid mid-table club."
Chelsea won the Europa League on Wednesday. The Blues defeated Benfica 2-1 on injury time goal from Ivanovic.
The Juventus jersey for the 2013/14 was released earlier this week. Be the first to wear the colors of the Old Lady.
Ajax has released their away soccer jersey for the 2013/14 season. Get in the Gear.
The adidas Nitrocharge is the most talked about new cleat in years. It was released on May 15 and will take your pitch by storm.
adidas has added some color to the Predator line with this new colorway. Released on May 17. Be the first to own a pair.
The push for more color on their cleats, adidas has added the infrared colorway to the adiZero f50 Line.
The Liverpool 2013/14 soccer jersey is available for pre-order. The Reds are eager to compete for silver next season.
One of the top soccer cleats for control the Nike CTR360 will not let you down on the field in tight spaces.
Bayern Munich are kings of Germany and hope to be crowned kings of Europe at Wembley later this month!
The new PUMA evoSPEED 1.2 FG. A great new soccer cleat with classic look and first time for PUMA to be on the cleat.