Al Ahly have turned down a second offer from OGC Nice for defender Mohamed Abdelmonem as both teams are set to reach an agreement.
Two days ago, an initial offer from OGC Nice believed to be valued at around $2.5 million, was deemed insufficient by the Red Devils.
Al Ahly had set a price tag of $6 million for Mohamed Abdelmonem, whose contract with the Reds is set to expire by the end of the upcoming season.
Keen on reaching an agreement with Al Ahly, the French club submitted an improved offer of $3.5 million, but was again rejected by the soon-to-be Egyptian champions who asked Nice to get closer to their valuation of $6 million.
The news comes after it was reported that Nice have opened talks with Al Ahly over the signing of Mohamed Abdelmonem this summer.
Mohamed Abdelmonem is expected to replace Jean Clair Todibo, who is rumoured to have attracted interest from Juventus and West Ham.
Abdelmonem has established himself as one of the best centre-backs in Egypt and Africa, guiding the Reds to back-to-back CAF Champions League titles.
Several European clubs have been said to monitor the Egypt international, with Gianluca Di Marzio stating that Serie A outfit Bologna are a huge fan of the player.
If Abdelmonem completes a move to the French club, he will become the ninth-ever Egyptian to play in the Ligue 1 and the first to represent the Eaglets.
Nice finished last season fifth in Ligue 1 and secured Europa League football for next season and will be hoping to strengthen their squad, having lost Khéphren Thuram to Juventus earlier this summer.
The club is owned by British petrochemical giant INEOS, which also owns Swiss Super League side FC Lausanne-Sport and a 27.7% minority stake in Premier League giants Manchester United.