Manchester City have reached an agreement with Valencia for the transfer of winger Ferran Torres.

That’s what Las Provincias report today, claiming that sources close the deal have informed them that the two clubs have now reached an agreement on an asking price for the youngster.

The website reports that Manchester City have agreed to pay Valencia €25m upfront for Torres, with €10m in ‘fixed variables’ to secure his signature.

They state that negotiations between the two clubs have ‘accelerated’ in the last few days after the owners of both clubs – something we covered earlier this week – took charge of the talks.

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They have now managed to reach an agreement on an asking price for the highly-rated winger, who City have targeted to replace Leroy Sané following his move to Bayern Munich.

Torres already has an agreement in place with Manchester City – again, something we’ve covered extensively over the last few weeks – and will now head to the Etihad for the next step in his career.

The move will be considered a good deal for Valencia, who were clear that they had to sell Torres this summer after he refused to sign a new deal at the club with only one year remaining on his current contract.

That, Las Provincias explain, has been used by Manchester City to ensure that they could pay a lower for his signature, beating the likes of Real Madrid, Borussia Dortmund and Juventus to it.

Update: Marca are also reporting the news, claiming the deal to be €25m + €12m in variables, with the player signing a five-year contract at the Etihad, all pending on the player passing a medical, which he is set to undergo in Barcelona.