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Yet to be announced on the official site but The Guardian has the story up with Stuart Brennan of the MEN confirming it too, stating a fee of £25 million has been agreed with just personal terms to now be sorted out:

The Guardian also states the fee will rise to £28 million with potential odd ons (as does The Telegraph's Mark Ogden) and is the structure of the deal that is interesting. How does City traverse the Financial Fair Play requirements? A loan until the end of 2014/15 with a commitment to buy in the summer (as we saw with Alvaro Negredo's move to Valencia)?

One of the pluses of the Bony move is of course his availability with regards to the Champions League (although it is fair to say he would have had little football in a City shirt prior to the first leg against Barcelona) which will mean a current senior player will need to drop out of the squad. Prior to any future surprise departures you have to think that Bacary Sagna is probably the most at risk.

More to come no doubt.