From Brazil: Manchester City advancing in negotiations for Palmeiras’ Eduardo Conceicao

The most significant development, as relayed by Sport Witness, comes from Conceicao’s camp. As cited by Brazilian journalist Jorge Nicola, Conceicao’s agent Adriano Ribeiro has confirmed that discussions with Manchester City are progressing.

A formal offer is yet to transpire but it is expected in the foreseeable future, which marks a clear step forward ahead of competing clubs.

The structure of the offer is also becoming clearer as negotiations advance and Conceicao’s camp are working with a proposal of £34 million (€40 million) in fixed terms, with additional bonuses on top.

What is the wider context of a deal for Man City?

City want the Brazilian this summer but of course, Palmeiras would like to hold onto their prodigal star until he reaches a maximised valuation, especially considering that they expect him to walk the same path as Real Madrid’s Endrick and Chelsea’s Estevao.

Manchester City renew interest in €70M-rated Bayer Leverkusen midfielder amid Sandro Tonali doubts

In fact, the Brazilian club have already set their stance and are only willing to consider offers beginning at an estimated £43 million (€50 million) in fixed fees, excluding any bonuses or add-ons.

That creates a clear gap between negotiations but Manchester City, if anyone, are the masters of pulling off underquoting agreements – as was seen in the January transfer window, when the Blues signed Antoine Semenyo and Marc Guehi for £64 million and £20 million respectively.

That being said, Palmeiras are confident that Conceicao will leave for a figure much higher than his current valuation, though the south American outfit equally expectant that his £86 million (€100 million) release clause won’t be triggered.