The 21-year-old joined the Citizens' academy from Derby County in 2019 and established himself as one of the club's brightest prospects in their Elite Development Squad.
Delap scored 35 goals in 36 appearances for Man City's Under-23s squad, before scoring his first senior goal just 18 minutes into his debut in an EFL Cup win over Bournemouth in September 2020.
Since then, Delap has made just five more first-team appearances for Man City and has been sent out on loan to three different Championship teams to showcase his talent and gain valuable experience.
Delap, son of long-throw expert Rory Delap, endured a challenging 2022-23 season during loan spells at Stoke City and then Preston North End, scoring only four goals across 38 matches.
The striker then made the move to Hull City and scored eight goals in 31 league appearances as the Tigers narrowly missed out on the playoffs - finishing seventh and three points behind the top six.
Delap favour Ipswich move over Southampton
Delap still has two years remaining on his contract at the Etihad Stadium, but with his pathway into Pep Guardiola's first-team plans seemingly blocked by the likes of Erling Haaland and Julian Alvarez, a permanent exit now appears to be on the cards.
According to The Athletic, newly-promoted Premier League duo Ipswich and Southampton have both had offers worth an initial £15m plus £5m in potential add-ons accepted by Man City.
However, the report adds that Delap has chosen to join Ipswich and is expected to undergo a medical on Wednesday, with an agreement over personal terms not anticipated to be an issue.
Southampton are believed to have been admirers of Delap for some time and saw a bid in the region of £16m turned down by Man City in the summer of 2022.
Russell Martin's side have tried their luck again this summer, but appear to have lost out to Ipswich in the race for his signature - the Tractor Boys secured automatic promotion from the Championship after finished second last season, while Southampton were triumphant in the playoffs.
Ipswich, managed by Kieran McKenna, have already been busy at the start of the summer transfer window, spending a club-record fee on Omari Hutchinson following a successful loan spell from Chelsea last season, and recruiting Ben Johnson on a free transfer from West Ham United.
The Tractor Boys are also said to be in advanced talks with Hull over a £35m double deal to sign defender Jacob Greaves and winger Jaden Philogene - the former has been granted permission to undergo a medical, while an agreement is in principle for the latter to make the move to Portman Road.