Man City has agreed to sell Ferran Torres to Barcelona.
The Catalan club is understood to have offered 55m euros (£46.7m) plus another 10m euros (£8.5m) in add-ons in exchange for the 21-year-old forward.
In spite of the club’s current financial difficulties, a recent bank loan allows them to fund the deal.
Spanish international Torres, who joined City from Valencia in August 2020, has also agreed to the transfer. He has made 43 appearances and scored 16 goals in that time.
In the first six games of the season, he started for City but was dropped to the bench for Southampton’s goalless draw in September, and then suffered a foot injury on Spanish duty the following month that cut short his season.
Torres has been told he will be the star of the team – something that appeals to him – and that Barcelona are prepared to match City’s valuation. Barca believe Torres will become one of Spain’s best players in the next decade along with Barca teenager Ansu Fati.