Lille head coach Davide Ancelotti has confirmed the club are in exit talks with Bouaddi's representatives with the 18-year-old midfielder valued at €100M (£86M.5M) by the Ligue 1 side.
As per the latest from BBC Sport, City have matched that figure with a firm offer, after the 18-year-old played a starring role for Morocco at the 2026 FIFA World Cup this summer.
Despite his age, Bouaddi has been a first team regular for the last two years a Lille, and he now looks ready to take another step up.
Talks are ongoing over a contract, with City willing to offer him a long-term deal, as part of a major push to bring him to Manchester before the end of August.
If the deal goes ahead for the suggested price, it will set a new record as the most expensive teenager involved in a Premier League transfer, and would place him fifth in the global teenage list - in behind Joao Felix, Jude Bellingham, Yan Diomande and Kylian Mbappe.