According to the Manchester Evening News, Elliott-Anderson remains Manchester City's top transfer target this summer, and the Sky Blues are reportedly considering a third bid for the England international.
Manchester City's second bid of £120 million this week was rejected by Nottingham Forest, which included an initial transfer fee of £106 million and £14 million in add-ons.
It is understood that Nottingham Forest and its owner Evangelos Marinakis are insisting on a higher upfront transfer fee for the 23-year-old midfielder, whose current contract with Nottingham Forest runs until the summer of 2029.
Forest believes that the sales of Rice, Enzo Fernández, and Moises Caicedo for over £100 million in recent years demonstrate Elliott-Anderson's value, and they hope to secure a record-breaking transfer fee in British football, surpassing the £125 million Liverpool paid for Newcastle player Isak last summer.
Manchester City's interest in Anderson remains strong, and he is their primary target for summer signings, but the Sky Blues intend to adopt a wait-and-see approach and are unwilling to get involved in a bidding war with Forest.
It is understood that Elliott-Anderson himself prefers a move to the Etihad Stadium, while Manchester United has lowered their interest in the midfielder due to the difficulty in meeting Forest's asking price. This makes Manchester City Elliott-Anderson's only true suitor, and although Forest may continue to be firm on the transfer fee, both sides are expected to find common ground in the coming weeks.
As Elliott-Anderson is set to participate in the World Cup with England, and considering the Three Lions' schedule, the deal is unlikely to be officially finalized in the coming weeks, but Manchester City and Forest could still agree on the transfer fee and related terms beforehand.
The Sky Blues are also targeting other midfielders, with strong interest in Newcastle midfielder Tonali, and may yet abandon Elliott-Anderson to pursue other alternatives. However, for now, Manchester City is fully committed to signing the Forest midfielder and is confident of reaching a deal.