Everton have slapped a £40million price tag on defender Mason Holgate amid strong Man City interest, Football Insider can reveal.

This site first revealed on Thursday afternoon that City have placed Holgate top of their summer shopping list as Pep Guardiola scours the market for a centre-back with Premier League experience.

An Everton source has told Football Insider that Holgate’s valuation has rocketed in recent months, during which he has established himself as a regular starter who’s in strong contention for England’s Euro 2020 squad.

They previously valued the former England Under-21 international, who signed from Barnsley in the summer of 2015, at the end of last year at £14m and the new price tag is an astonishing jump of £26m.

Carlo Ancelotti dismissed the chances of Everton cashing in on Holgate this summer at his media conference yesterday.

Ultimately, City’s pursuit will hinge on whether the Merseysiders are successful in tying the 23-year-old down to a new contract.

His current deal expires in the summer of 2022 and his negotiating power has increased as a result of the excellent form that has alerted rival clubs.

Despite Ancelotti’s public confidence, City’s interest will be a major concern to the Merseysiders after they had been confident of fending off Holgate’s other suitors Newcastle United, Bournemouth and Sheffield United.

The Premier League champions, who signed another Barnsley academy product John Stones from Everton in 2016 for £47.5m, have been hugely impressed by the versatile defender’s performances.

Holgate has established himself as Yerry Mina’s regular centre-back partner, demoting England international Michael Keane in the process.

Holgate is mainly a centre-back, but he can also play at right-back and even slotted into central midfield in December due to a series of injuries.

He has now started 17 of Everton’s last 18 Premier League matches after spending last season on loan at West Brom in the Championship.

In other Everton news, it can be REVEALED that the club have knocked back a Tottenham swoop for demoted 27-year-old.