Juventus and Manchester City have reached an agreement in principle to send City striker Carlos Tevez to the Italian champions, ESPNFC.com's Gab Marcotti reported Tuesday night.
Tevez, 29, has one year left on his current deal with the former Premier League champions and it is believed they have decided to cash in now rather than risk him moving without a fee next summer.
Manchester City director of football Txiki Begiristain met with Juventus on Tuesday to discuss a £13.5 million deal which would end the Argentina international's four-year stay with City.
Tevez is expected to undergo a medical with the Italian champions on Wednesday.
An initial €9 million fee has been agreed although clauses could see a further €3 million payable over the course of a three-year contract, provided Juventus qualifies for the Champions League.
Tevez will take a cut in his base pay from £10 million pounds a year to about £7.5 million, Marcotti reported.
"The deal seems to be pretty much imminent, my understanding is that there is pretty much an agreement on terms," he said on ESPN Press Pass. "You're talking about €9 million going to City straight away, plus another €3 million - €1 million per season over the next three seasons, provided Juventus qualifies for the Champions League.
"From Tevez's perspective, he had a year left on his deal, he's getting another two years, but he will have to take a pay cut. He is going to go down from roughly £10 million-a-year to something in the vicinity of £7.5 million.
"From City's perspective, they wanted to claw back some money and get Tevez's hefty wages off the wage bill. It's imperative they do so having spent some £45 million on Jesus Navaz and Fernandinho. Now they feel they can go out and maybe look for another striker. I think they would still like to replace Edin Dzeko if they could."
During his time at City, Tevez has won the Premier League and FA Cup but also courted controversy when he allegedly refused to come on as a substitute during a Champions League game against Bayern Munich in 2011.