Brighton are close to completing a club-record £20m deal with Bristol City for centre-back Adam Webster.
No deal has been agreed yet but Brighton are hopeful talks will reach a successful conclusion.
Their current record transfer is the £17m they paid Dutch club AZ Alkmaar for Iran winger Alireza Jahanbakhsh.
The move could reportedly see the Seagulls' Lewis Dunk move to Leicester City, who in turn may sell England's Harry Maguire to Manchester United.
Leicester and United - who made a £70m bid for Maguire earlier in July - remain apart in their valuation of the 26-year-old.
Webster, 24, joined the Robins from Ipswich in the summer of 2018 and helped them finish eighth in the Championship last season.
Speaking earlier on Tuesday, City boss Lee Johnson confirmed there had been bids made for the defender.
"Once big moves start happening, you wouldn't believe the domino effect that has on all the rest of us," Johnson told BBC Radio Bristol.
"I expect there to be stories from Ashton Gate, both ins and outs. Webby has done fantastically well, but the market is the market.
"The value of the player, given a lot of the stuff that goes on in the domino effect, is always there.
"Nobody is unsellable, but at the same time you have got to be ready, and I won't recommend that we move anybody on if we don't feel like we have a succession plan," Johnson continued.
"I'm probably not quite as confident [of keeping Webster] as I was but that's mainly due to the sheer level of interest, and it's not just in Webby."
Meanwhile, Johnson added that ex-Portsmouth defender Nathan Thompson, a free agent, will not be joining City after a trial.