Manchester City have agreed a fee of around 28 million pounds to sign Swansea striker Wilfried Bony, sources have told ESPN FC.
Bony, 26, was the highest scorer in the Premier League for the calendar year of 2014 and is currently on duty for Ivory Coast at the African Nations Cup.
He has proved to be an inspired signing for the Swans since arriving from Dutch club Vitesse Arnhem for 12 million pounds in the summer of 2013. He has scored nine Premier League goals already so far this season, having managed 17 in the league in the 2013-14 campaign.
City are limited to a 49 million-pound net spend this season as part of their punishment from UEFA for breaching Financial Fair Play and have spent about 35 million pounds more than they have received in the last eight months.
But the Premier League champions will get around 30 million euros from Valencia for the sale of Alvaro Negredo last summer, a move which pays for the Bony deal.
Last week, Manuel Pellegrini said that City would target a new striker as Negredo's departure left him with just Sergio Aguero, Edin Dzeko and Stevan Jovetic: "We are going to replace Alvaro Negredo because it was the decision that we took in the moment we sold him. We need another striker so we are going to find which is the best player to bring in."
Sources also told ESPN FC that personal terms between City and Bony are expected to be a formality.
Information from Richard Jolly and the Press Association was used in this report.