Real Madrid have reportedly set a limit of €125m (£108m) for Jude Bellingham, with the Spanish and European champions not prepared to go above that figure for the Borussia Dortmund midfielder.
The 19-year-old is currently one of the most in-demand players in world football, having established himself as one of the top young midfielders in the game during his time at Dortmund.
This season, Bellingham has scored nine goals and registered three assists in 22 appearances for BVB, including four goals and one assist in five Champions League outings.
The midfielder has also starred for England at the 2022 World Cup, helping the Three Lions to reach the quarter-finals of the competition.
Bellingham was on the scoresheet against Iran in his side's first match of the tournament, and he has since started the clashes with the USA, Wales and Senegal.
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Dortmund are believed to be willing to sell the youngster next year for a fee in the region of €150m (£130m), with Manchester City, Liverpool, Manchester United and Chelsea all credited with an interest.
Meanwhile, Paris Saint-Germain president Nasser Al-Khelaifi has confirmed that his club are interested in signing the Englishman.
"Everybody wants him, I'm not going to hide it. He's at his club, and [we have] respect, so if we want to talk to him we'll talk to the club first," he told Sky Sports News.
"Amazing player, what a player. England [are] lucky to have him, to be honest. He's one of the best players in the [World Cup]. [It's] amazing, his first World Cup, he's calm and relaxed, confident – amazing."
According to Defensa Central, there is also huge interest from Real Madrid, but Carlo Ancelotti's side are not prepared to go over €125m (£108m) for his signature.
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The report claims that Los Blancos are not prepared to pay a 'crazy fee', and the €125m (£108m) price mentioned would also include all add-ons and bonuses.
Real Madrid are expected to be in the market for at least one high-profile midfielder next year, with the contracts of Toni Kroos and Luka Modric both due to expire in the summer of 2023.
Benfica's Enzo Fernandez has allegedly been identified as an alternative to Bellingham, although there have also been claims that his club would ask for more than €116m (£100m).
Bellingham has scored 19 goals and registered 21 assists in 112 appearances for Dortmund since making the move to the German club from Birmingham in the summer of 2020.
