Manchester City have reportedly submitted a £42.7m bid for Wolverhampton Wanderers midfielder Matheus Nunes.
The Citizens are looking to sign a midfielder to replace Ilkay Gundogan, who joined Barcelona on a free transfer earlier this summer.
An injury to Kevin De Bruyne on the opening day of the Premier League season has also pushed Man City to bring in reinforcements.
They initially identified West Ham United's Lucas Paqueta as a priority target, but they have since walked away from negotiations, with the Brazilian under investigation for alleged betting breaches.
As a result, they have turned their attention to potential alternatives, including Nunes and Crystal Palace's Eberechi Eze.
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With Eze expected to command a fee in the region of £70m, Man City have seemingly decided to step up their pursuit of Nunes, who is likely to be a cheaper option.
According to journalist Fabrizio Romano, Man City have formalised their interest with an initial bid in excess of €50m (£42.7m).
The Portugal international has already agreed personal terms and is keen to complete a move to the European champions.
Nunes, who joined Wolves from Sporting Lisbon for £38m last summer, has five years left to run on his contract, which includes an option for a further year.
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While Wolves want to retain the player's services, they could be tempted to sanction a sale due to their ongoing concerns over Financial Fair Play.
They have already sold several members of their squad this summer, including Ruben Neves to Al-Hilal and Nathan Collins to Brentford.
Meanwhile, Man City are close to unveiling the signing of Jeremy Doku from French side Rennes after agreeing a £55.5m fee.
The Belgian winger will become the club's third signing of the summer following the additions of Mateo Kovacic and Josko Gvardiol.
