Manchester United, Manchester City and Tottenham Hotspur have been put on alert after Benfica reportedly agreed to cash in on Nicolas Gaitan.
According to the Daily Mail, the 24-year-old has a buyout clause of £40m but reports suggest that the figure may be closer to £25m.
The Argentine winger is likely to feature for Benfica in their Champions League quarter-final against Chelsea in Portugal tonight.
Gaitan moved to Lisbon from Boca Juniors as a replacement for the Real Madrid-bound Angel Di Maria in 2010.