Manchester City have agreed a fee of €57.5m (about £52m) with Monaco for Benjamin Mendy, with the France international set for a medical this week ahead of his proposed move.
Pep Guardiola had earlier identified the 23-year-old left-back as one of his transfer priorities at the end of last season following the departure of Gaël Clichy but City saw three bids turned down for the player who only joined Monaco last season for £11m.
The third – a €50m (£44.5m) offer was rejected on Thursday, with the French champions demanding a fee in excess of the £50m City paid Tottenham for Kyle Walker last week, according to the Guardian UK.
Late interest from Chelsea, who have been so far frustrated in their attempts to sign Brazil international Alex Sandro from Juventus, prompted City to increase their offer for Mendy, meaning he will become the most expensive defender in history when the deal is complete.