Swansea City are selling Wilfried Bony to Manchester City for a staggered fee.
The terms have been struck over the last 24 hours.
The Daily Mail says Bony's deal with City is understood to be worth £25m plus a further £3m if they win the Premier League, Champions League or FA Cup during his contract.
The striker would have to play in 60 per cent of their matches in those competitions to qualify.