With claims Ronaldo has asked to be sold by Juventus this summer, reports in Spain claim City are in 'advanced talks' over a stunning swoop for the Portuguese superstar.
According to AS, only a transfer fee agreement stands in the way of the deal being done, with the Spanish outlet claiming Juventus want 'at least €25million' or Gabriel Jesus as part of a swap deal.
Juve want Brazilian forward Jesus to replace Ronaldo in their attack, and reports claim City aren't willing to pay such a high fee for the 36-year-old.
But Pep Guardiola also isn't prepared to let Jesus leave this summer after his bright start to the season in a new wider position.
Instead, AS claim City have offered Raheem Sterling to Juventus, with negotiations set to carry into the final days of the summer transfer window.
Ronaldo's agent, Jorge Mendes, is understood to have been discussing the player's contract with the Premier League champions, and personal terms have now been agreed.
City are reported to have prepared a two-year contract until 2023, with a salary of between €15m and €20m net - a considerable reduction from his current €31m wages in Turin
All that is left is to come to an agreement with Juventus over the price.
Landing one of the greatest footballers of all time in Ronaldo would be a huge coup for City, who have had to deal with the disappointment of missing out on Harry Kane this summer.
CR7's move to the Etihad would spark a furious reaction from Manchester United fans, however, as the Portuguese earned legendary status in his six years at Old Trafford.
It appears it would stun a few of his former Red Devils teammates, too.
United legend and record goalscorer Wayne Rooney has said he 'can't see' the transfer happening, although admits anything can happen in football, and it's been done before.
"It's an interesting one but I can't see it," Rooney said in an interview with talkSPORT.
"I think Cristiano has got a very good legacy at Manchester United and I know how proud he is as a player and a person. I can't see it, but it's football so you never know.
"There have been a few that have done it but no one at Cristiano's level.
"Obviously Peter Schmeichel and Andy Cole, but I just can't see that as an option for him really.
"Financially of course he doesn't need to do it. I think it's more likely that it's PSG he goes to."
But, just in case the deal does happen, make sure your diary is free the weekend commencing November 6 - when City face United at Old Trafford.
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