Highly rated Racing Club striker Lautaro Martinez is closing in on a move to Inter which could cost in excess of €27 million, the Argentinian club's president has revealed.

The 20-year-old had long been tipped to join Atletico Madrid, with Diego Simeone - a former player and coach of Racing - said to be a big admirer.

But negotiations failed to progress with the Spanish side after Atletico angered Racing by allegedly putting Martinez through an unauthorised medical, meaning he remained in Argentina following the transfer deadline in LaLiga.

Martinez has been in good form in the 2017-18 Superliga season, scoring seven goals - including a hat-trick against Huracan on Monday - in eight games.

And Inter appear to have won the race for the coveted attacker, with Racing's president Victor Blanco discussing the deal in detail.

"When we close the transfer we will give the figure, probably over $33million [€27m]," Blanco told Fox Sports Argentina. "We are negotiating a future percentage [in addition], instead of increasing the value.

"It would be convenient for Racing to keep a percentage value, since they [Inter] will put a release clause of at least €110m [in his contract], which could generate very important money for Racing in future."