Tottenham would reportedly be tempted to sell Harry Kane for a transfer fee less than £150million, which could prompt Manchester City to make another offer for the striker.
Kane has made clear his desire to leave Spurs this summer in a pursuit of silverware.
The 27-year-old has not won a major trophy during his career and is believed to see this summer as the best opportunity to earn a big move.
Spurs chairman Daniel Levy and owner Joe Lewis are not willing to sell and it would likely take a premium fee to prise Kane away from the club.
It was reported earlier this summer that City had seen a bid of £100m rejected by Spurs.
Owner Lewis is reportedly unhappy that Kane’s stance on a move was made so public towards the end of last season when interim boss Ryan Mason was trying finish the campaign positively.
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The Manchester Evening News believe that the north Londoners might end up settling for around £120m.
City are desperate to sign a new striker this summer after boss Pep Guardiola lost long-serving star Sergio Aguero to Barcelona.
The Argentine has joined the La Liga giants on a free transfer having seen his contract with the Premier League champions expire.
Guardiola has made clear that he wants a regular scorer to help him maintain the top-flight title and Kane fits that profile.
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The City head coach is hoping for news about Kane and fellow transfer target Jack Grealish this week having endured a frustrating pre-season.
Both players return to the clubs, Spurs and Aston Villa, next week after being involved in England’s Euro 2020 campaign.
Guardiola has overseen pre-season training this summer with just four senior players due to the majority of his squad being involved in either the Euros or the Copa America.
Fernandinho, Benjamin Mendy, Riyad Mahrez are the only regular first-teamers expected to attend, while third choice goalkeeper Scott Carson is also involved.
The rest of the squad is made up by fringe players and academy prospects.
City face their only official friendly of their pre-season schedule on Tuesday when they host Championship side Preston North End at the City Football Academy.
A further fixture against French side Troyes has been cancelled.
Guardiola’s side then play Leicester City in the Community Shield on August 7 before their Premier League campaign begins at Tottenham on August 15.