Atletico Madrid will only allow Joao Felix leave the club this January if a £9.5million loan fee is paid, MySportDab reports.
The Spanish club also want a commitment to buy the player for £70.5m at the end of the season.
Felix is likely to leave the Spanish club this January after some disagreements with Coach Diego Simeone.
Several Premier League clubs have shown interest in the 23-year-old.
But, According to The Mirror, Manchester United are currently the frontrunners in the race to sign Felix in January.
Erik ten Hag wants to develop his attacking options since the exit of Cristiano Ronaldo in December.
The Red Devils have offered Atletico Madrid a £3m loan deal for Felix, and plan to pay his wages in full.
However, Atletico Madrid rejected the proposal presented by Felix’s agent Jorge Mendes.
The Spanish club have now set a deadline of next week for clubs to match their valuation of the player.
Arsenal are also interested in the Portugal star, and his agent Mendes has met with the Gunners about bringing Felix in during this window.
Meanwhile, Chelsea have also ready to enter the battle and pay for the loan deal to secure a move for Felix.
Atletico Madrid paid £113 million to sign Felix in 2019, but he has only started ten matches this season across all competitions.
He is one of many attacking options considered by United, alongside Memphis Depay, Olivier Giroud and Wout Weghorst.