Borussia Dortmund attacker Erling Braut Haaland has reportedly rejected Manchester City's first offer of a mammoth contract.

The Citizens are now thought to be one of two leading contenders to sign the 21-year-old in the summer market, with Pep Guardiola's side facing stiff competition from Real Madrid.

Haaland is understood to possess a £63m release clause in his Dortmund contract which will activate in the summer, although the Norway international will command hefty wages from potential suitors.

According to AS, Man City have tabled a £500k-per-week contract offer to the former Red Bull Salzburg starlet, but the proposal was swiftly knocked back by Haaland's camp.

Haaland is not believed to have fully closed the door on the Premier League champions, but he is waiting to hear an offer from Real Madrid before making a final decision.

In addition, the report adds that Haaland's BVB deal does not actually possess the rumoured £63m release clause, and Dortmund will seek €100m (£83m) for his sale this summer.

Haaland has scored 23 goals in as many games for Dortmund in the 2021-22 season and was on target for Norway in Friday's 2-0 win over Slovakia.