Swansea have made an offer in the region of that sum in the last couple of days but it looks more likely that he will be heading to Nottingham Forest's City Ground.
Swansea would struggle to pay the winger’s wages and Cardiff, Leicester, Birmingham and West Ham are all in with a chance of landing him.
Routledge spent the second half of last season on loan at Queens Park Rangers and had been expected to sign permanently. However, that deal was never concluded and now he will take his time before deciding on his next move.
Steve McClaren, Forest's new boss, hopes to have talks with the player this weekend.