Manchester United and Borussia Dortmund remain far apart in their valuation of England forward Jadon Sancho.
It had been reported United had agreed personal terms with Sancho, but BBC Sport understands that is not the case.
The Red Devils have made Sancho their number one transfer target this summer.
Dortmund want about £100m for the 20-year-old and say they want a deal to be done by 10 August so they can get on with their pre-season campaign with no distractions.
United feel that sum – which would be a record for a British player – is unrealistic and does not take into account the financial impact of the coronavirus pandemic, which has cost top-flight clubs in Europe an estimated £3.5bn during the 2019-20 season.
United remain keen on Sancho but are wary of repeating the mistake they made in giving Alexis Sanchez a contract worth £400,000 a week. The club are attempting to agree a deal that would allow the Chilean, who has two years left on his deal, to join Inter Milan.
Forwards Marcus Rashford and Mason Greenwood and goalkeeper David de Gea have all signed new deals in the past 13 months, and United would not want to put themselves into a position where they have to revisit them.
While this could be viewed as the start of hard negotiations on both sides, United do have the option of looking at alternatives.
And, although this seems unlikely, BBC Sport has been told they will do that unless Dortmund step back significantly from their current position.