Juventus' Leonardo Bonucci controls the ball
A report from GianlucaDiMarzio.com from earlier on in the week suggested that City had an initial bid of £38.4 million, saying that Pep Guardiola had always been a fan of the 29-year-old. Juventus turned down that offer as the Serie A champions view him as a key member of their side.
Manchester City manager Pep Guardiola is presented to the fans
Sky Sports' report suggests that Guardiola will meet with Bonucci's agent Alessandro Lucci in the next few days in order to try and do a deal.
Central defence has been something of a problem for City over the past couple of seasons. Vincent Kompany can be an excellent defender but has suffered from numerous injury problems meaning the club captain can't be relied on all the time, while Eliaquim Mangala and Nicolas Otamendi haven't been able to wholly convince during their playing time.
Manchester City's Eliaquim Mangala and Nicolas Otamendi look dejected at the end of the game
Bonucci had a good Euro 2016 with Italy as part of a solid defensive unit and also demonstrated his ability on the ball - notably in their win over Belgium in their opening game - where his long ball picked out Emanuele Giaccherini for their opener in a 2-0 victory.
The centre-back has won five consecutive Serie A titles with Juventus, and was part of the side that made it to the 2015 Champions League final - as they lost out to Barcelona in Berlin.
He would certainly provide City with a tremendous pedigree and experience at the heart of their defence - something which has become a problem area in the past couple of years.
Italy's Leonardo Bonucci celebrates at the end of the match