Manchester United will have to cough up €42.5 million if they hope to sign Borussia Dortmund midfielder Henrikh Mkhitaryan.

According to reports in Germany Dortmund CEO Hans-Joachim Watzke admitted on Tuesday at Manchester United had ‘significantly improved their offer’, with Bild among others suggesting a fee of around €42.5 million.

It is believed Dortmund are poised to accept the offer, which would make the deal the largest sum ever paid for a player with just a year left to run on his contract.

The finer details of the deal are likely to be ironed out over the following days, while the player will need to pass a medical.

The 27-year-old Mkhitaryan joined Dortmund from Shakhtar Donetsk in 2013 as a replacement for Bayern Munich-bound Mario Gotze. That deal cost the club a personal record €27.5 million fee.

The Armenian managed a remarkable 23 goals and 32 assists in all competitions for the German side last term, while the Red Devils switch would make him Jose Mourinho’s second signing.