With Matija Nastasic facing a lengthy period on the sidelines through injury, the Citizens are low on cover at the back, with Vincent Kompany and Joleon Lescott their only fit, orthodox centre-backs.
Pellegrini has been chasing Pepe for much of the summer, but has so far failed to match Real’s valuation.
But, he is now ready to up his offer in bid to force through a move before City’s opening fixture of the 2013/14 season against Newcastle on Monday night.
The rugged 30-year-old is valued at around £23m, a figure that the Etihad Stadium outfit’s owners are willing to pay in order to avoid a stuttering start to the new campaign.
Pepe is seen as the ideal partner for Kompany, and would bring necessary experience to help the club push on in Europe – which is believed to be a priority.
Real boss Carlo Ancelotti is reluctant to lose the domineering defender, but with the emergence of young Frenchman Raphael Varane he is willing to do business for the right price.
Manchester City fans, is Pepe the ideal man to help you go further in the Champions League?
Have your say below!
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