The Sunday Express says following a recent high-powered meeting in Abu Dhabi, involving chairman Khaldoon Al Mubarak, CEO Garry Cook, football administrator Brian Marwood and manager Roberto Mancini, the go-ahead was given to add the final expensive pieces of what City hope will be a Premier League title-winning jigsaw.
Mancini has persuaded the City money men that more quality is vital if the FA Cup winners are going to take the next step, having also qualified for the Champions League.
That means attempting to bring in Tottenham's Bale, the PFA's Player of the Year.
Spurs have told interested clubs that it would take a sensational bid to make them part with Welsh flier Bale. But Mancini has been given the green light to do just that and City are prepared to go up to £40m for the former Southampton player - smashing the British record they created when they signed Robinho for £32.5m from Real Madrid.