Italian Serie A side Bologna has made a revised offer for United States and San Jose Earthquakes attacker Cade Cowell, multiple sources with knowledge of the negotiations told ESPN.
The latest offer consists of a loan with an option to buy.
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According to one source with knowledge of the discussions, if the purchase option is triggered, the initial transfer fee would be $3 million and could rise to $5.5m if certain incentives are met. San Jose would also receive a percentage of any future transfer.
Negotiations are ongoing, however.
The transfer window in Italy closes on Sept. 1. The MLS roster freeze date is Sept. 13.
ESPN can confirm a report from The Athletic that last year the Quakes turned down an offer from Ligue 1 side Stade de Reims, as well as the report of Bologna's initial offer.
Cowell, 19, is in his fifth campaign with the Quakes, after signing a Homegrown deal with San Jose in January 2019. This season he has contributed three assists in 13 league matches.
Cowell also represented the U.S. at the FIFA Under-20 World Cup, where he scored three goals as the U.S. reached the quarterfinal stage, losing to eventual champions Uruguay. All told, at club level, he has scored 11 goals for San Jose in 102 league, cup and playoff appearances.
Cowell made his international debut for the U.S. in a January, 2021 friendly against Bosnia & Herzegovina. He has gone on to make eight appearances, and earlier this year he took part in the 2023 Concacaf Gold Cup, scoring in a 6-0 victory over Trinidad & Tobago.