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Frank Lampard has agreed a free transfer to New York City - and Atletico Madrid marksman David Villa is set to join him, MirrorFootball can EXCLUSIVELY reveal.

The highly-decorated ex-Chelsea midfielder and the Spanish title-winning striker were at Manchester City's Carrington complex on Saturday to complete the internal formalities of their respective moves.

Lampard and Villa met with Jason Kreis, installed as New York City Head Coach back in January by the Premier League champions' Chief Executive Officer Ferran Soriano. Lampard broke off from his preparations with England for the World Cup to sort out his move.

Both deals are a huge statement of intent from City's US franchise which kicks off in the new Major League Soccer season next March.Lampard is understood to be have agreed to a basic wage significantly less than the £150,000-a-week that he picked up at Chelsea.

That pay packet is expected to be boosted substantially by bonuses however with the England midfielder's signing a massive coup.

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Lampard's decision to quit London for the Big Apple signals the end of his 13-year association with the club he joined from West Ham for £11million in 2001.

Since then the 35-year-old midfielder has clinched three Premier League titles, four FA Cups, two League Cups, the Champions League and the Europa League.

Chelsea's record scorer with 211 goals, Lampard has rejected a 12-month extension at Stamford Bridge after making 40 appearances in all competitions last season.

(Image: Laurence Griffiths)

New York's capture of Villa is another massive coup with 32-year-old fresh from helping Atletico beat Barcelona and Real Madrid to the Spanish title.

Villa, who scored 13 goals last season, is also set to fly out to Brazil shortly for the World Cup with Spain, who are among the favourites.