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Per the official site:

We can confirm that the club has agreed to loan Emmanuel Adebayor to Real Madrid for the rest of the season.

The player will travel to Spain on Wednesday to have a medical.

Madrid have an option to purchase the 26-year-old at the end of his temporary spell in the Spanish capital.

Adebayor scored 19 goals in 36 league and cup starts for the Blues after being signed from Arsenal by previous boss Mark Hughes. The last of those came back in November in the Europa Cup tie in Poznan.

Although I'm certain that City would have dearly loved to have facilitated a permanent move at this stage - and from what I understand there was interest from one other side - it is a move that does suit the club given the option, described in The Guardian as a 'unilateral' one, and one that could be in the region of £15 million according to Daniel Taylor.

The move, long mooted, appeared to be resurrected when Hamburg blocked the notion of Ruud van Nistelrooy returning to the Bernabeau. It is in some way a strange call by Jose Mourinho who, although desperate to add attacking reinforcements, you don't associate a player of Adebayor's nature with.

It (bringing him to the club) was a move that at the time felt surplus to requirements. The holdovers from the previous season were Robinho and Craig Bellamy but Mark Hughes added Carlos Tevez and Roque Santa Cruz. True, Santa Cruz failed dreadfully in terms of what was hoped but adding Adebayor felt like a case of Hughes doing it because he could, rather than because he should. That isn't to suggest I felt he may turn out to be a sound addition and on occasions it felt like he may well do.

He does however leave with none of the vitriol dished out by Arsenal fans when he left the Emirates, nor in the manner they predicted.

It is a decent enough record that Adebayor has (a shade over 1 in 2) since signing, but like so many of the Hughes-era signings it is one that has never borne fruit. Adebayor has provided flashes of quality and undoubtedly has immense talent, but there is a frustrating element to him that suggests he will never quite live up to what is promised.

There have been rumours of a poor attitude (although he is believed to have won Mancini around at the start of this season), but being a confidence player once Carlos Tevez had the attack and play built around him last season he was too often on the periphery to make a meaningful impact. Of late, he has rarely made the bench and only garnered column inches with his training ground contretemps with Kolo Toure.

Given the wages he is on, even a short term deal will impact on the clubs finances. If they can offload him for in the region of £15 million in the summer then that sort of return coupled with his wages off the books should make it not quite as expensive a mistake as it could have been.