Manchester United have made a £46m offer for Benfica youngster Renato Sanches, according to a report in Portugal.

Earlier this month speculation suggested that the Red Devils had failed with a bid in the region of £22m.

However, Record claims that the two clubs are now much closer to reaching an agreement after United more than doubled their original proposal.

The publication adds that one of the sticking points to the deal being concluded is the amount of money that the Premier League club are prepared to pay up front.

United are said to have offered £30m right away, with the rest to come as add-ons if the 18-year-old midfielder reaches certain landmarks.

However, it is believed that Benfica have informed their English counterparts an agreement will only be struck if they up the initial amount that they are prepared to shell out.