Manchester City have made a £100m bid for Tottenham striker Harry Kane.
City are open to including players in addition to the cash offer, but Tottenham are expected to reject the bid.
UK media reported last month that Kane had told Spurs he wanted to leave this summer with Man City, Manchester United and Chelsea the interested clubs.
The England captain is said to be fully focused on the Euros, with a decision on his club future not expected before the conclusion of the tournament.
Kane is valued at upwards of £120m and Tottenham are keen to keep him despite the 27-year-old believing he has a gentleman’s agreement with Daniel Levy.
Levy, who has appointed Juventus’ former football officer Fabio Paratici as the club’s new managing director of football, said earlier this month he sympathises with Kane’s frustrations about the lack of silverware at Spurs, but hinted a deal could be difficult to do.
“All I will say is his frustrations in not winning are shared by me and all the fans and players. We all want to win,” Levy told the club’s official website.
“One of the items that Fabio will have to deal with when he comes in is which players are going to be retained, which will be asked to look for other clubs.
“There is a market out there. What we want and what other clubs want is not always possible to achieve. We will do whatever is right for the club.”
Levy confirmed Spurs will be active in the transfer market this summer, but was keen to restrict expectations about how much money they could spend.
Man City chairman Khaldoon Al Mubarak, meanwhile, said after last month’s Champions League final that the club will be “competitive and aggressive” this summer, and are aiming to strengthen by bringing “quality to the squad in a couple of key positions”.
The Premier League champions’ priority is to replace Sergio Aguero, with Kane being considered along with Erling Haaland, Romelu Lukaku and Lautaro Martinez.
Man City begin their Premier League title defence by travelling to Tottenham on August 15.