Manchester City are set to reject Al Nassr's opening proposal of £25million for their goalkeeper Ederson.
The Brazilian has said he is open to moving to Saudi Arabia, but City value him at a higher price of £50million.
One month ago it was revealed that the Saudi side, who are coached by Argentine Marcelo Gallardo, had an interest in Ederson.
Al Ittihad have Ederson's friend and compatriot Fabinho, formerly of Liverpool, in their squad along with ex-Chelsea midfielder N'Golo Kante and Karim Benzema - though the French striker is expected to leave this summer.
Ederson, 30, suffered a fractured eye socket against Tottenham earlier this month which curtailed his season but has been considering taking on a new challenge.
Al Ittihad are targeting Ederson as the goalkeeper considers leaving Manchester City
Ederson has enjoyed much success under Pep Guardiola but he could now depart the club
The Saudi Arabian Pro League has been keen on Ederson for over a year but they are reluctant to overspend for one of the world's best goalkeepers who still has two years left on contract.
Al Nassr have also been credited with interest as they look to replace David Ospina who is out of contract this summer.
On Sunday it was also revealed that City are considering a massive new deal for the Brazilian.
According to The Sun, the Blues want to prevent Al-Nassr from luring the Brazilian to the Saudi Pro League, with an incredible £900,000-a-week deal – plus a bumper signing-on fee.
City will open talks next week to offer Ederson a new deal that could see his pay rise by 75 per cent.
Al Ittihad already have Fabinho, Ederson's close friend and compatriot, in their squad
The report says that while City won't be able to come anywhere near matching the Saudi club's rumoured terms, they would look to increase Ederson's pay packet to nearly £1million per month.
Now 30, a new deal would mean City get to keep Ederson at the Etihad for the remainder of his peak years, and signal how important a figure he remains at the club.
Meanwhile, Norwich are said to be interested in Man City defender Callum Doyle.