Manchester City are set to offer €12m (£11m) for Velez Sarsfield attacking midfielder Thiago Almada in the next few days, according to TyC Sports.
The Argentinian TV station reports the Citizens are working in conjunction with Sporting Lisbon to sign the teenager.
The two clubs have signed a partnership agreement which sees City get access to Sporting’s academy in exchange for the Premier League champion’s resources.
Almada has only just broken through into Velez’s first team, having made his senior debut last August against Newell’s Old Boys. He went on to make 16 appearances last campaign.
City’s £11m proposal is unlikely to be enough, though, with Velez reportedly refusing to let the 18-year-old leave for anything less than his release clause.
Almada’s buyout fee is currently set at €25m (£22.5m), more than double City’s first bid. It remains to be seen whether a compromise will be reached between the two sides.