The 24-year-old has been one of the Bundesliga’s top stars for some time and is a key player for the Champions League runners-up.
But, a £34m bid would leave the German side powerless, with a clause in his contract leaving him free to discuss a move away from the Westfalenstadion.
Reus is thought to be content at Dortmund, but the Premier League trio are all keen to lure him to England in the New Year.
Arsenal have been heavily linked with the winger in recent months, with Arsene Wenger keen to unite him with fellow German star Mesut Ozil.
Meanwhile, both Manchester clubs are also keen and are likely to rival any offer made for Reus.
The wide-man is keen to make his nation’s squad for the 2014 World Cup, and may be tempted by a big move, which may raise his profile ahead of the showpiece tournament.
Dortmund lost one of their talismanic players in the shape of Mario Gotze last summer to a release clause-triggering offer from bitter rivals Bayern Munich.
Is Marco Reus worth £34m?
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