Eastlands side want Nou Camp maestro following return of Catalan hero from the Emirates.
Manchester City will attempt to prize Barcelona midfielder Andres Iniesta away from Spain with a £55million bid this summer.
The Blues manager Roberto Mancini wants to add more creativity to his squad and sees the 27-year-old as the ideal partner for David Silva to unlock opposition defences.
This could mean the end of the road for Cesc Fabregas at Arsenal as Barcelona will now have the money to sign the Emirates captain.
Mancini wants to continue with his City project after clinching the club’s first Champions League qualification and winning the FA Cup.
But the Eastlands board are not prepared to bank roll another massive spending spree due to Uefa’s new financial fair play rules coming into effect this summer.
A few marquee signings will be approved as long as some big earners are moved on first, with Emmanuel Adebayor and Craig Bellamy first in line for the exit door.
Barcelona would not want to lose a star such as Iniesta but appreciate the service he has brought the club and the player would like a bumper new pay deal.
The sale of the Spain international would free up the cash to sign Fabregas for £50million from Arsenal.
The La Liga champions wanted to bring the 23-year-old back to the Nou Camp last summer but could not meet Arsenal’s valuation.