Manchester City keep spending! Pep Guardiola's side eye late January move for Porto star Nico Gonzalez but face paying €60m release clause, with Barcelona holding 40% sell-on clause

Fabrizio Romano has reported that the Premier League champions are in talks with Porto over Nico after making a "formal approach" for the 23-year-old midfielder. The problem for City is that Porto don't want to lose a key player and will ask for an "important" transfer fee, or it's no deal. Nico has a €60 million (£50.2m/$62.3m) release clause, although matters are complicated by Porto owing former club Barcelona a 40% sell-on clause if he moves on.

Seemingly in response to a dreadful November and December and the clear need for fresh energy in the squad, City have had an unusually busy mid-season transfer window. Omar Marmoush has been the highest profile arrival for the best part of £60m ($74m) from Eintracht Frankfurt, but young centre-back trio Abdukodir Khusanov, Vitor Reis and Juma Bah have also been recruited this month. The January spending is already at £127m ($157m).

Nico is a product of Barcelona's La Masia conveyor belt, joining aged 11. After a sudden first-team breakthrough alongside Gavi in 2021-22, making 37 senior appearances across all competitions, it looked as though he might become a long-term part of the Barca squad. But a loan to Valencia followed the very next season, before a permanent Porto transfer for just €8.5m in 2023.

If Manchester City do want to complete more transfer business before Monday night's 11 pm (GMT) deadline, they are going to have to move quickly in negotiations with Porto. Complicating things is the not-so-small matter of a Premier League clash with Arsenal on Sunday evening, while Porto have a game on Monday.