But the Times claims Saudi giants Al-Ahli are leading the race after having a £35m offer rejected last week.
It’s reckoned the Middle Eastern side have agreed personal terms with Toney over a lucrative long-term contract.
And Brentford are now holding out for a £50m fee, having initially valued Toney at £70m at the end of last season.
The Bees believe there is a deal to be done before transfer deadline day.
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And they will not look to sign a replacement despite new striker Igor Thiago being ruled out until 2025 with a meniscus injury.
Should Toney leave, it will spell the end of a fine four years at the Community Stadium.
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Ivan Toney was left out of Brentford’s opening match of the 2024/25 Premier League season due to transfer interest from elsewhere.
Newcastle have reportedly made a fourth bid worth £65million for Crystal Palace defender Marc Guehi .
Chelsea are in talks with Atletico Madrid regarding a permanent move for Joao Felix .
Should an agreement be reached, it could resurrect the sale of Conor Gallagher to the Spanish giants.
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He scored 72 goals in 141 games under Thomas Frank, including 20 Premier League strikers in the 2022/23 campaign.
And Toney’s club form has also resulted in six England caps following his debut last year.
Harry Redknapp's 2024/25 season predictions
TOP FOUR ARSENAL, MANCHESTER CITY, LIVERPOOL and TOTTENHAM — and I’ve got a really strong feeling for Arsenal this season. A few of Man City’s star players are getting a bit older. There’s been nothing between the two teams over the past two years.
RELEGATION EVERTON (18th), SOUTHAMPTON (19th), LEICESTER (20th) — I like Sean Dyche and Everton are a great club with brilliant, knowledgeable fans. They’re just badly run. They need to go down to rebuild to come back again. But the key is new owners.
TOP SCORER ERLING HAALAND — I can’t see anyone taking his crown off him. He’s a goal machine, isn’t he? If I can get him at evens, I might lump on!
MOST ASSISTS MARTIN ODEGAARD — He’ll be the catalyst for Arsenal’s surge to the title. I can see it now. He’s a superb player and he makes it look so easy.
CARABAO CUP TOTTENHAM — Ange Postecoglou will break Spurs’ trophy curse. Most big teams will mess about with this trophy, but Tottenham will go full steam.
FA CUP LIVERPOOL — I fancy Arne Slot to stamp his mark on English football quickly and there’s few better ways to do it than lifting this famous old trophy.
CHAMPIONS LEAGUE REAL MADRID — Carlo Ancelotti is bullish about their chances. He has said that with Kylian Mbappe, it’s the best team they’ve had for a long time.
EUROPA LEAGUE MANCHESTER UNITED — Clubs seem to have stopped sneering at this competition. And Spurs and United should be going both barrels for it.
CONFERENCE LEAGUE CHELSEA — The Luxembourg champions could be dangerous! Joking aside, the Blues must win it.
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