Manchester City have reportedly taken a major step forward in their pursuit of Nottingham Forest midfielder Elliot Anderson after submitting an eye-catching verbal offer for the England international.
The Premier League giants have long been viewed as frontrunners in the race for Anderson, although rivals Manchester United continue to admire the midfielder and have not entirely ruled out a move.
Man Utd are believed to have explored the financial framework of a potential deal, with co-owner Sir Jim Ratcliffe reportedly willing to sanction wages of around £150,000 per week should the club decide to press ahead with their interest.
Man City make verbal offer for Elliot Anderson
According to The Athletic, Manchester City have now tabled a verbal proposal worth in excess of £100m for Anderson.
David Ornstein reports that the package is worth £106m up front, with add-ons potentially pushing the overall value beyond £120m, a figure that would surpass the fee Arsenal paid to sign Declan Rice.
Only Liverpool's £125m move for Alexander Isak currently stands above that mark among British transfer fees, meaning Anderson could soon become one of the most expensive signings in Premier League history.
Forest are understood to have rejected an earlier approach from City, but with the midfielder still under contract for another three years, the club remain in a strong negotiating position.
The former Newcastle United midfielder featured in all 38 Premier League matches last season, contributing four goals and four assists, and City reportedly view him as an ideal successor to Bernardo Silva following the Portuguese midfielder's departure.
Man Utd to look for options elsewhere?
While Manchester United continue to admire Anderson, the report claims that the Red Devils are unwilling to compete at the current financial levels.
Rather than becoming embroiled in a bidding war, the club are focusing on targets they believe are more attainable and represent better overall value in the market.
West Ham United midfielder Matheus Fernandes and Bournemouth's Alex Scott have both been linked with moves to Old Trafford in recent weeks, while Newcastle United star Sandro Tonali remains another name under consideration.
With Ederson already expected to arrive from Atalanta, United may ultimately decide that committing a nine-figure sum to Anderson would be difficult to justify, particularly given the number of positions Michael Carrick is looking to strengthen this summer.