The Spanish goalkeeper is playing out his final season at Barcelona and was expected to join the French giants as a free agent in the summer.

Valdes is understood to have verbally agreed to join Monaco - but was set a deadline to sign a binding pre-contract with them which has now passed.

That has angered billionaire owner Dmitry Rybolovlev, who is ready to turn his attention to Hannover’s Ron-Robert Zieler instead, and City are poised to take advantage.

When Manuel Pellegrini was asked about Valdes earlier this week the City boss replied: “He’s not in our thoughts right now.”

But while City do not want to make any public statements about Valdes before he faces them again in the Champions League, they are increasingly confident of signing him.