Manchester City are bracing themselves for a blockbuster bid from Real Madrid for Sergio Aguero.

Champions League semi-finalists Real have been linked with a move for the Argentinian forward for the past three months.

Aguero has hotly dismissed ‘rumours’ he is heading to La Liga and said in May: ‘I’m very happy to be at Manchester City. I’m committed to them. It’s a great club.’

But new City manager Manuel Pellegrini is on the brink of signing Alvaro Negredo from Sevilla in a deal which should be completed in the next 24 hours and will then turn his attentions to Fiorentina’s Montenegro marksman Stevan Jovetic.

Edin Dzeko has already been told he is part of the new regime’s plans at the Etihad Stadium and that could leave Aguero vulnerable to a big-money bid as City prepare to meet the new Financial Fair Play demands.

They have already signed Jesus Navas from Sevilla and Brazilian midfielder Fernandino for a combined £45m and the arrivals of Negredo and Jovetic would push City’s summer spending through the £100million barrier,

Sources in the Spanish capital suggest that Real Madrid have been also alerted to the possibility that Aguero may not be happy if he falls down City’s pecking order and they will consider a tabling a bid.