Manchester City have reportedly been informed that they will have to come up with an offer of €120m (£109m) to sign Atletico Madrid centre-back Jose Gimenez this summer.

Pep Guardiola's side are expected to bring in at least one new central defender ahead of the 2020-21 campaign, having struggled in that area of the field during the current season.

According to The Times, the Citizens have identified Atletico's Gimenez as the ideal summer recruit.

However, the report claims that the Premier League giants have been told that they will have to pay €120m (£109m) if they wish to bring the Uruguay international to the Etihad Stadium.

The 25-year-old has been with Atletico for the last seven years, making 189 appearances for the club in all competitions, including 25 outings during the 2019-20 campaign.

Gimenez's existing deal at the Wanda Metropolitano is due to run until June 2023.