Manchester City and Liverpool have been told that they must stump up £20m if they want to land Bologna ace Gaston Ramirez.

The Premier League duo have both been linked with moves for the 21-year-old, who has impressed during his two years in Serie A.

Ramirez has also been attracting the interest of Wolfsburg, who have already tabled an offer, according to the Uruguayan's agent.

"Bologna want €25m (£20.2m) for Ramirez, but an agreement can be found," Pablo Betancourt told www.fcinternews.it.

"It is obvious that Bologna would do well from his sale. They would receive 70% whilst 30% would go to [Ramirez's former club] Penarol, as previously agreed.

"German club Wolfsburg have offered €15-18m (£12-15m) for Ramirez whilst Zenit St Petersburg have expressed an interest."

The attacking midfielder, who scored eight goals last season, has earned nine caps for Uruguay.