Valencia have set their asking price for Manchester City target Ferran Torres.

Torres wants to join City and is hopeful an agreement on his fee is close.

The Daily Mail says the 20-year-old is in the final year of his contract but Valencia have been pushing for £40million for the Spain international.

Valencia have also asked about City midfielder Yangel Herrera as part of negotiations but that may be resolved as a separate transfer.

The 22-year-old Venezuelan has been on loan from City at La Liga side Granada.