Eastlands giants Manchester City have been told to dish out €5m if they really want to sign central defender Martin Demichelis from Spanish heavyweights Atletico Madrid.

Los Rojoblancos have recently snapped up the Argentine centre-back on a free transfer when he decided not to extend his stay with another Spanish side Malaga.

But Atletico could be due to sell him straight away as Manchester City and indeed boss Manuel Pellegrini are intent on bringing the veteran defender to the Etihad Stadium after growing frustrated over trying to sign Real Madrid's Pepe.