Sky Sport Italia claims Nasri is set to join Roberto Mancini's side for a fee of €25 million [£22.2m], with the player believed to have been offered a contract worth €6m [£5.3m] a year - over £100,000 a week.
City are yet to confirm or deny that a deal is in place to sign Nasri as the summer's biggest transfer saga takes a fresh turn.
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