Spanish journalist Guillem Balague has tweeted that Manchester City have wrapped up a deal for Valencia defender Nicolas Otamendi.
The Argentine centre-back was heavily linked with a move to city rivals Manchester United during the summer.
However, Balague claims that the Citizens have beaten the Red Devils to the signature of the 27-year-old after having a €40m (£28.4m) offer accepted by Los Che, with the transfer being officially confirmed on Monday.
It is reported that Eliaquim Mangala, who joined City from Porto last summer, will join the Spanish giants on a season-long loan as part of the deal.
Balague has also suggested that Real Madrid were willing to pay Otamendi's €50m release clause, if Sergio Ramos had left the club during the close season.
