Leicester City have reportedly informed Manchester City that it will cost up to £75m if they are to finally sign Riyad Mahrez this summer.
The Citizens missed out on the Algeria international in the winter transfer window after being quoted £95m, which was substantially more than they were willing to offer.
Man City were always expected to come back in for Mahrez, however, and The Guardian reports that they have now taken the initial steps towards getting one of their top attacking targets.
Leicester are holding out for a basic fee of £60m, making it a club-record deal for the Premier League champions, with a further £15m in performance-related add-ons.
Mahrez hinted earlier this month that he is interested in a move to the Etihad Stadium, having gone AWOL in January when a proposed switch broke down.
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