Goal exclusively revealed on Tuesday that a £21.7 million plus add-ons deal had been agreed for the striker, before the 27-year-old left the Spanish side's pre-season training camp in Costa Ballena.
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"We are about to complete the sale of Negredo to City. If all goes well he will say bye this afternoon at the Sanchez Pizjuan," he told reporters.
"City are signing a great player. For Sevilla and Negredo it is a major operation. It is the contract of his life."
Goal understands that Sevilla could receive a further £2.6m in performance-related bonuses on top of the £21.7m fee paid by City up front, after protracted talks between club officials reached an end.
Negredo, who was targeted after the Premier League side baulked at Napoli's £54m asking price for Edinson Cavani, as well as the Uruguayan's £250,000-a-week salary demands, is set to see his salary doubled to around £75,000-a-week.
Sevilla coach Unai Emery admitted on Saturday that Negredo was "likely to leave" after the club confirmed the signing of Colombian Carlos Bacca from Club Brugge on Thursday.
Manuel Pellegrini has worked quickly to bring in some new faces since taking over Roberto Mancini's post this month and has also had a £23.3 million bid for Fiorentina attacker Stevan Jovetic accepted, as revealed by Goal on Monday.