The model has been offered £160,000 to strip for the publication after bosses were pleased with the success of fellow Brit Kelly Brook's recent shoot, according to the Daily Star.
However, sources said that Clancy is "disappointed" at the fee she has been offered and is expecting at least £250,000 for the job. It is also claimed that she will only do the shoot if the photographs are tasteful.
An insider said: "Negotiations are in the early stages but a deal would be great news," adding that bosses are considering increasing their original offer.
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