The Premier League runners-ups see the Fiorentina and Sevilla attackers as viable alternatives for Isco, who recently joined Real Madrid, and PSG-bound Edinson Cavani
Manchester City are set to take their summer spending to over £90 million after moving closer to securing both Fiorentina attacker Stevan Jovetic and Sevilla forward Alvaro Negredo, Goal understands.
Sporting director Txiki Begiristain has not travelled with the squad on their pre-season tour of South Africa as he looks to tie up deals for the pair, who emerged as top targets in recent weeks after missing out on Isco to Real Madrid and Edinson Cavani, who is close to joining Paris Saint-Germain.
City officials met with Jovetic's agent, Fali Ramadani, at Mottram Hall in Cheshire on Wednesday, with both parties keen to discuss a deal to bring the 23-year-old to the Etihad Stadium this summer.
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City had highlighted the Spanish midfielder as a new option on the left side of their attacking line-up and think Jovetic can do a similar job if they can secure his signature.
Goal understands that Jovetic would receive an £80,000-a-week salary package at City, and club officials are confident of tying up a move in the coming days with Fiorentina happy to maintain their close links to City, harboured following Stefan Savic's move to Serie A last summer.
Meanwhile, City have also received the green light to complete a £20m move for Sevilla striker Alvaro Negredo after the Spanish side confirmed the signing of Carlos Bacca from Club Brugge.
Colombian Bacca has been brought in by Sevilla chief Monchi as a replacement to Negredo, who will see his salary doubled to £75,000-a-week in Manchester.
Sevilla and City have maintained a strong relationship following Jesus Navas' £18.5m move to the Etihad earlier this summer, and the Premier League outfit have agreed to meet the Spanish outfit's asking price.
Negredo emerged as City's key striker target after the club refused to meet Cavani's £54 million buyout clause at Napoli and baulked at his £250,000-a-week salary demands. The Uruguayan is close to completing a move to the French capital following discussions over his personal terms.
Jovetic and Negredo would be City's third and fourth major signings of the summer respectively, with Navas and Fernandinho having already been secured in June prior to Pellegrini's appointment.