Liverpool and Manchester City have been told to pay around the £40million region by Schalke in their pursuit for Leroy Sane, Express reports.
The 19-year-old has been linked with the two Premier League giants over the past few weeks heading into the January window.
Schalke are hoping that interest in the winger can spark a bidding war between the two clubs as they look to capitalize on the funds gained from his potential sale.
The Reds were believed to have tabled a £32million offer for his services, but the Bundesliga outfits raised his price following interest from City.
He featured 24 times in all competitions for his club so this term, so far netting five goals while being able to register another five assists.
His fee is not likely to be lower than the proposed region given that he is still tied down at the club until at least the summer of 2019.