The newspaper claims the 27-year-old, who joined City in a £24 million deal from Barcelona last week, signed a five-year-deal worth a staggering £55.6m.
Toure will be picking up a basic wage of £185,000 a week before tax but that figure will increase to £221,000 when the Government's 50% tax bracket comes into force.
On top of his unbelievable basic wage, the Ivory Coast international will also be getting an image rights payment of £1.65m a year plus an additional £823,000 bonus each time City qualify for the Champions League.
Toure will also collect a £412,000 bonus should he win the Champions League with City whilst there are also additional bonuses for winning the Premier League and FA Cup - all tax-free.
The midfielder, who will be playing alongside brother Kolo at Eastlands, made just 13 starts in all competitions for Barcelona last season.
Toure is City's third summer signing so far after David Silva signed from Valencia for £24m and the £11m capture of Hamburg defender Jerome Boateng.
The club are also reportedly still aiming to complete a £25m deal to buy England midfielder James Milner from Aston Villa.
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