Manchester City will have to pay a basic fee of £60m for Riyad Mahrez, with Leicester City also to demand considerable add-ons which could push the final price closer to £75m for the 27-year-old.

The total would still be closer to the champions’ own valuation and is considerably lower than the total package of £95m demanded by the 2016 title-winners in January. That resulted in the Manchester club walking away, with the hierarchy believing the demand to be particularly unrealistic.

Guardiola turned to Mahrez after Alexis Sanchez joined Manchester United in January and remains interested in adding the wide forward to bolster this area of his squad.

In the winter window City never made a formal offer for the 27-year-old, who is under contract until 2020, though informal discussions between City’s chief executive, Ferran Soriano, and his opposite number, Susan Whelan, did take place.

Guardiola also wants a defensive midfielder, with Napoli’s Jorginho his No 1 target.