The 21-year-old is regarded as one of the brightest prospects in South American football after a brilliant 2021 campaign for River Plate, scoring 24 goals and registering 15 assists in 46 appearances across all competitions.
In addition, journalist Juan Cortese states that Alvarez's move to the Etihad Stadium is "consolidated" but he will stay with River Plate until June, or until their Copa Libertadores campaign is completed, which would finish in October at the latest.
The Argentina international has been heavily linked with a move away from South America, as he will see his current contract expire in December this year.
Alvarez, who is understood to have a £17m release clause, has previously been linked with the likes of Manchester United, Real Madrid and Bayern Munich, though City are now the frontrunners to recruit the forward. body check tags ::