Last Updated: Thu, 26 Jun 2014 07:59
Manchester City are closer to signing Porto's defensive midfielder Fernando after the Portuguese club announced a fee had been agreed.
A statement by Porto to the Portuguese Securities Market Commission (CMVM) confirmed that a deal worth £12million had been struck between the two clubs.
There has been no confirmation from City but the Premier League champions have long been linked with the player.
The statement read: "FC Porto hereby informs the market that it has reached an agreement with Manchester City for the permanent transfer of professional footballer Fernando Reges for 15million euros."
City were linked with a move for the 26-year-old Brazilian in January but a deal did not materialise.
Should a move be completed now, Fernando would become City's second signing of the summer after landing right-back Bacary Sagna on a free transfer from Arsenal.
Fernando would give City manager Manuel Pellegrini an extra midfield option in addition to Yaya Toure, Fernandinho and Javi Garcia.
With City restricted to a net spend of £49million this summer as punishment for breaching UEFA's Financial Fair Play regulations, such a deal could represent good value.
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