First reported by the MEN's Stuart Brennan, with the news now beginning to be reported elsewhere:
@StuBrennanMEN: Mancini says fee has been agreed with Corinthians for Tevez.
Brennan also suggests that the fee will likely be around £39 million and that although no-one at the club is confirming, reports in Argentina suggest a deal for Sergio Aguero has also been struck (which could have been the final prompt for the Tevez fee to have been agreed,
UPDATE: Just when the saga finally appeared to be coming to an end, Corinthians have issued a denial:
"Regarding the news published during the early hours of today stating an agreement between Corinthians and striker Carlos Tevez, the (club) president Andres Sanchez would like to clarify to the public that Manchester City did not accept the Corinthians offer for the player," the Brazilian outfit said in a statement.
"The truth is that the club sent Corinthians a counter-proposal in the early hours, that due to the time difference only was noticed by the Alvinegra (white and blacks) management this morning.
"In the counter-proposal, the English club have asked for changes in the form of payment and on the value of the transfer".
There is some suggestion that the hiccup is down to how the fee is structured, but perhaps more will emerge later today.