Manchester United have submitted an opening bid to sign Rasmus Hojlund from Atalanta, according to Fabrizio Romano.
The 20-year-old striker is the club's number one priority to add to their forward ranks.
According to the Daily Mail, Atalanta value Hojlund at €100 million (£86 million).
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But BBC Sport claim that United have their own valuation of the Dane - and will not go above it in any bid they submit.
The striker scored 10 Serie A goals last season for Atalanta, and had a breakthrough campaign as the Denmark national team's leading centre forward.
That was enough to convince United and manager Erik ten Hag that the player was worth pursuing, after their interest cooled in signing Tottenham star Harry Kane.
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Now, Romano has revealed United's opening bid is in - and how much it is worth.
Romano reveals Man Utd bid for Hojlund
Taking to Twitter, Romano revealed that United's offer comprises of a fixed fee plus add-ons - but is below Atalanta's asking price.
He wrote: "Understand Manchester United sent first verbal proposal to Atalanta for Rasmus Hojlund for €60m package.
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"Bid structure is €50m fixed fee plus €10m add-ons. Atalanta always wanted at least €70m fee."
However, Romano warned that PSG remain interested in the striker, and 'keep insisting' with his representatives.
The French giants accepted a world-record £259 million bid from Al Hilal for Kylian Mbappe, and will be in the transfer market for a replacement if the forward chooses to leave.
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According to RMC Sport's Sacha Tavolieri, PSG have held talks with Hojlund's representatives but are looking to convince Atalanta to lower their asking price.
Whether the Italian side choose to do so remains to be seen - but United will be hoping that they do as they look to seal a much-needed third summer signing following the arrivals of Mason Mount and Andre Onana.
Speaking about the club's striker search in a press conference on Wednesday, Ten Hag said: "What I can say is we do everything in our power to get it done. For me, the earlier the better because we have to integrate him in the team, with the way of play.
"In an ideal situation, he was already here. But you do not always get ideal situations as a manager."
Topics: Manchester United, Fabrizio Romano, Premier League, Transfers