Report: Chelsea's Kovacic close to Man City move for around £34M

Manchester City are on the verge of completing a deal worth around £34.2 million (€40 million) to sign Chelsea's Mateo Kovacic, according to ESPN's James Olley.

The clubs still need to resolve how the payments will be structured - the London outfit is keen to raise funds this month to offset its huge transfer outlay during a disappointing 2022-23 season. However, it's expected the move will be confirmed within the next two weeks, Olley adds.

Kovacic, 29, has "broadly" accepted personal terms with Manchester City. There should be significant progress regarding the final details once he's finished this month's international commitments. The former Real Madrid midfielder is representing Croatia at the Nations League Finals in the Netherlands and should feature in Sunday's decisive showdown with Spain.

The four-time Champions League winner could soften the blow if treble-winning Manchester City captain Ilkay Gundogan departs this summer. The German is yet to agree to a new contract ahead of his current deal's expiration at the end of June. He's reportedly attracting interest from Arsenal and Barcelona.