Inter now in race for Lucas Moura

The Italian giant reportedly faces fierce competition from Manchester United and Chelsea for the 19-year-old starlet.

When asked if Inter had made headway in its negotiations to acquire Lucas, Moratti said on the club's official website, www.inter.it: "Yes we have but the progress that has been made is to see whether or not there is a chance (to buy the player).

"Now we have to see if we can manage to carry it out.

"These are things that have to take place by putting everything together, which also means taking a look at our revenue."

Reports in Brazil claim Sao Paulo would only accept to sell the coveted Lucas, who is currently midway through a long-term contract at the Tricolor Paulista outfit, for offers above £30 million ($46 million).

Sao Paulo reportedly turned down a £10 million ($15.2 million) offer from Inter back in January.

"He (Lucas) is a player that has great talent," Moratti said. "We are watching him closely."

Lucas will compete for Brazil at the Olympics in London later this month.