Manchester City are set to make a move for their top defensive target John Stones, a source has told ESPN FC.

Everton centre-back Stones, 22, has been identified by Pep Guardiola as a priority but could cost up to £50 million.

The England international had been at Euro 2016, although he did not make an appearance, but City are now ready to begin negotiations following the nation's elimination from the tournament last week.

Everton rejected a Chelsea bid of £26m for Stones last summer and City are expected to have to pay considerably more.

Everton are now bankrolled by British-Iranian billionaire businessman Farhad Moshiri and do not need to sell Stones, but the Daily Mail has reported that Stones has told new Toffees boss Ronald Koeman that he wants to leave the club.

John Stones was part of England's Euro 2016 squad but did not play before the round-of-16 exit. Jan Kruger - UEFA/UEFA via Getty Images

New City boss Guardiola is determined to sign a top-class centre-back, but missed out on Athletic Bilbao's Aymeric Laporte earlier in the summer after the Frenchman opted to sign a new contract.

There have also been reports in Italy that City are interested in Juventus defender Leonardo Bonucci and made a £38m bid, which was said to have been rejected by the Serie A side.

However, a source has told ESPN FC that the club have not made any offer for the 29-year-old Italy international.

City have already completed the £21m signing of Ilkay Gundogan from Borussia Dortmund and a £13.8m deal for Nolito from Celta Vigo.