Liverpool and Arsenal have reportedly been informed that they must pay close to nine figures if they are to sign Thomas Lemar from Monaco.
The France international has been on the radar of both Premier League clubs since the summer, coming particularly close to joining the Gunners in a deadline-day move.
Arsenal were unable to get a deal over the line in time, though, and domestic rivals Liverpool have since emerged as the favourites to land the 22-year-old's signature.
According to The Mirror, Lemar's hefty valuation will break both sides' current transfer record, with Monaco waiting for a £90m bid before even considering negotiations.
Lemar has two goals and four assists in 13 Ligue 1 outings this term, compared to nine and 10 respectively across the duration of 2016-17.