Manchester City have agreed a fee of £28m with Fiorentina for striker Stevan Jovetic, according to the Mail Online.
It is understood that the Premier League runners up will pay an initial £23m to the Serie A side, which could rise by £5m in additional payments.
Fiorentina, who finished fourth in the league last season, announced on Twitter that they had struck a deal with Manuel Pellegrini’s side.
Jovetic scored thirteen goals in thirty-one league appearances last season, leading him to be linked with a number of high profile clubs this summer.
Arsenal and Juventus had both been linked with a move for the Montengero international, though neither side was able to come to an agreement with La Viola.
Should the transfer go through, the 23 year old with be the third new arrival at the Etihad Stadium this summer, following deals for Brazilian midfielder Fernandinho and Spanish winger Jesues Navas, while the club are also closing in on stiker Alvaro Negredo from Sevilla.