Zoran Tosic appears set to join CSKA Moscow after Cologne revealed they are unable to compete with the offer for the Manchester United winger.
The 22-year-old is currently on World Cup duty with the Serbia squad, but is likely to finalise a permanent move away from Old Trafford after the finals.
Tosic spent the second half of last season on loan at Cologne after struggling to make an impact at United and impressed during his time in the Bundesliga.
Cologne were keen on a permanent deal, and Tosic had also expressed a wish to rejoin the club, but CSKA have reportedly made an £8million bid.
CSKA are looking at Tosic as a replacement for his Serie A-bound compatriot Milos Krasic and Cologne director Michael Meier concedes his club are unable to match the Russians' offer.
"We made him an offer to stay," said Meier.
"But the sums of money put before him make it hard for any German club to compete."
Meier added in Express: "But, in the end, there are only winners in the deal.
"We stayed in the league thanks to Tosic, Zoran was able to show his form and is at the World Cup and Manchester United can achieve their asking price."