The 21-year-old Spaniard has long been hailed as one of La Liga’s top young talents, and has already made a staggering 158 first-team appearances for his club despite his age.
Even though he is a key player at the San Mames, rumours suggest that Athletic are ready to sell their man with his contract due to expire in 2015.
The club are far from keen to see him whittle down his current deal and leave for free, and are looking to cash in if an offer of around £15m is received.
They were initially looking to tie him down to an extended contract, but it is understood that negotiations have not been smooth.
City chief Manuel Pellegrini has an extensive knowledge of the Spanish footballing scene, and is thought to be an admirer of the versatile starlet.
The Chilean is expected to be backed heavily In the transfer market by his side’s Middle Eastern owners, and will have the cash available to lure Munain to the Etihad Stadium and dwarf his current £2m-per-year contract.
Pellegrini is also said to be concerned at a lack of top class options behind David Silva, Jesus Navas and Samir Nasri, and is keen to strengthen as he plots to challenge for domestic and European honours next term.
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