The Citizens are determined to land his signature after announcing this week that all-time top scorer Sergio Aguero will depart at the end of his contract when the season ends.
According to the Sun, Haaland wants the most lucrative contract the Premier League has ever seen, which would see him earn £600,000 per week.
Those wages would be paid over a five-year period for a total of £156 million, in addition to a transfer fee of more than £150m, taking the total cost of the deal comfortably over the £300m mark.
PSG are the only other team that could realistically afford to fork out such sums, and City don’t believe Tottenham would make it possible for them to sign their alternative target Harry Kane.
That means the Etihad club are determined to sign the Norwegian, who is believed to have a release clause in his contract set at around £85m that becomes active in 2022.
Haaland has scored 33 goals in 31 games in all competitions for Dortmund this season, firing the club to the Champions League quarter-finals – where they face City next week.
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