Manchester City 'agree £23 million deal' for Valencia winger Ferran Torres - reports

Torres could cost up to €37 million depending if further contractual clauses are met. The price would represent a reduction on the £40 million they had been previously quoted by the Spanish side. The impact of coronavirus on clubs' finances and the fact that Torres had just one year left on his contract may have led to a compromise over the deal.

Negotiations are at an advanced stage with a deal looking imminent.

The Spanish under-21 winger made his debut in the 2017/18 season but established himself in the first team in the following campaign, when he made 37 appearances for Valencia.

He will join Manchester City after Pep Guardiola's side saw David Silva play his last game for the club last Sunday, when the side finished second in the Premier League. Guardiola may regard Torres as a replacement not for Silva but Leroy Sane, who has joined Bundesliga champions Bayern Munich.

A transfer may be easier to negotiate now that City are no longer facing a Champions League ban after they overturned that part of their Financial Fair Play punishment from UEFA.