Eurosport says City have agreed personal terms to sign Valencia star Ferran Torres.
The 20-year-old has just one year left on his contract at Mestalla having rejected any new offers to stay.
Ferran agreed to join City on Wednesday in a meeting between the Premier League club and the player's agent.
City will now have to agree on a fee with Valencia, who are looking to cash in on the youngster because of his contract situation.
Ferran has a release clause of 100 million euros, but the circumstances surrounding his contract mean that any transfer fee for him would be significantly less.