Bologna's Gaston Ramirez to cost £16m?

Bologna have told clubs interested in Gaston Ramirez that they will have to pay close to £16m for the Uruguayan.

The 21-year-old has been a reported target for Liverpool for most of the summer, with Tottenham Hotspur also believed to be considering making a bid for the attacking midfielder.

However, Gazzetta dello Sport has suggested that Bologna will demand £15.9m for Ramirez as they are required to pay 15% of a transfer fee to the player's former club, Penarol.

Recent reports in Italy have claimed that Liverpool have already had a £12.5m bid rejected by the Serie A side.

Ramirez has just finished competing in the Olympics with Uruguay.