Manchester City have reportedly signalled that they are not prepared to pay more than €35m (£32m) for Valencia attacker Ferran Torres during this summer's transfer window.
Pep Guardiola's side have allegedly already agreed personal terms with the 20-year-old ahead of a proposed move to the Etihad Stadium in the upcoming market.
However, according to Marca, City have made it clear to Valencia that they will not pay more than €35m (£32m) plus target-based add-ons for the Spain Under-21 international.
Torres is believed to have a €100m (£90m) release clause in his current deal at the Mestalla, but the attacker's contract is due to expire at the end of next season.
The youngster has been in impressive form for Los Che during the 2019-20 campaign, scoring six times and contributing eight assists in 43 appearances in all competitions.
Manchester United, Real Madrid and Juventus have also been previously been credited with an interest.
