Inter Milan president Massimo Moratti has confirmed that his club is working towards signing Sao Paulo midfielder Lucas Moura.
Lucas, 19, is the subject of interest from Italy, while Manchester United and Chelsea are also tracking the midfielder - but Inter appear to be first in line.
When asked whether Inter had made headway in their negotiations to acquire Lucas, Moratti told the club's official website: "Yes we have, but the progress that has been made is to see whether or not there is a chance [to buy the player].
"Now we have to see if we can manage to carry it out. These are things that have to take place by putting everything together, which also means taking a look at our revenue. He [Lucas] is a player that has great talent. We are watching him closely.''
Inter may well be priced out, however, as any deal would have to be over £30 million, according to reports in Brazil.
Sao Paulo reportedly turned down a £10 million offer from Inter iin January and their director of football, Joao Paulo de Jesus Lopes, mocked Inter's renewed interest on Wednesday.
"There is no [formal] offer and, even if it were to appear, this amount is ridiculous," he said. "How can you pay €25m (£20m) for a player of Lucas's quality? Italian football is broke - the club [Inter] are broke. It seems they are creating this to satisfy the fans."
Lucas will compete for Brazil at the Olympics in London later this month.