The Chilean completed deals for Alvaro Negredo and Stevan Jovetic last week, to take his total summer spend to just below the £100m marl.
But, he is happy to continue to splash the cash, and sees Pepe as the ideal man to address his rearguard concerns.
Despite having the best defensive record last season, Pellegrini is still keen to invest in his backline, and sees the Portuguese international as the perfect man to add steel and determination to his ranks.
The Real Madrid man has earned a reputation for his never say die attitude and aggressive style in the Spanish capital, and could striker up a fearsome partnership with club captain Vincent Kompany.
Pellegrini is also attracted to the 30-year-old’s Champions League experience, as he sets about impressing City’s owners with a sustained European run.
Real may well be willing to sell Pepe in the coming months after witnessing the emergence of Raphael Varane, who is tipped to become one of the finest centre-backs on the planet in the coming years.
Even if the signing is completed, Joleon Lescott could still be offered a one-year contract extension.
Manchester City fans, could Pepe give your side the experience to compete in the Champions League?
Join the debate below!
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