The Daily Star says the 19-year-old is thought to have a £1m buy-out clause in his contract and has been offered to the Hoops, who are yet to make a formal move and are still considering whether to bid or not.
Portuguese starlet Mane made the breakthrough at Sporting this season and has been also been scouted by Manchester United.
Celtic boss Neil Lennon is known to be keen on the youngster and will weigh up his options before making a final decision.
United however are well aware of Mane's pedigree, who has played for Portugal at every age-group level from Under-15s to Under-19s.
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