Ivan Rakitic
Rakitic will only leave if his €40m release clause is met. (Reuters) Reuters

Manchester United and Liverpool have been warned that they must meet Ivan Rakitic's €40m release clause if they want to sign the Sevilla captain.

The Croatian schemer has recently admitted he is unsure whether he will remain in La Liga as his club attempt to tie him down to a new long term contract amid growing interest from the Premier League.

With a year and a half remaining on his current deal, Rakitic has recently hinted at frustration over Sevilla's recent predicament which has seen them forced to sell off their key assets in order to address their financial misgivings.

The upcoming January transfer window could represent the club's last opportunity to claim big money on perhaps their most valuable player, as they did with Alvaro Negredo, Jesus Navas and Geoffrey Kondogbia during the summer months.

But speaking at a Sevilla Supporters' Club meeting, club president Jose Castro insisted he is confident of the Croatia international remaining at the Ramon Sanchez Pizjuan Stadium.

"Ivan Rakitic has a year and a half of his contract remaining. I have absolutely no doubts that we're going to reach an agreement with him," Castro said, via Inside Spanish Football.

"If anyone else is in a rush to have Rakitic, his clause is €40m and we'll leave it at that."

Rakitic has enjoyed a brilliant first half of the season at the Andalusian club. Having been named captain by head coach Unai Emery at the start of the season, the 25-year-old has flourished with his new found responsibility, scoring seven goals and laying five assists in his 14 league appearances for the club.

Both David Moyes and Brendan Rodgers have indicated they will be active in the upcoming transfer window, but whether the Premier League duo are ready to make an offer than would exceed United's record transfer fee and come close to matching Liverpool's remains to be seen.