The Brazilian international has been heavily linked with moves away from the Bernabeu in recent months and Man City have been named as one of his suitors.

As previously reported, Liverpool and Arsenal are also keeping tabs on Rodrygo's situation so there the speculation surrounding him has clearly caught the attention of several clubs.

According to Fichajes, Man City are set to submit a bid of €150m (£126.2m / $163.2m) for Rodrygo, which, if accepted, would make him the most expensive signing in Premier League history.

The report claims that Rodrygo has become one of Pep Guardiola's top targets amid the uncertainty surrounding Erling Haaland, who is a target for Real Madrid and others.

Rodrygo, 23, can play as a winger on either flank or as a centre-forward and has scored 57 goals and made 43 assists in 229 appearances for Madrid so far.

However, negotiations 'will not be easy' for Man City as Madrid view Rodrygo as a vital player for the present and future and may not entertain his sale for any price.

Sources have revealed to TEAMtalk that Man City are keen to strengthen in wide areas despite already having the likes of Jack Grealish, Jeremy Doku, Phil Foden and Savinho in their ranks.

Sources suggest that the Cityzens are looking to LaLiga for winger targets but Barcelona star Raphinha is the man at the top of their shortlist as things stand.

The former Leeds United man has been on fire for the Catalans this season, netting 10 goals and making nine assists in 14 appearances so far this season.

Barcelona view Raphinha as a vital player but could be forced into selling him if a big fee is made next year due to their ongoing financial struggles.

As for Rodrygo, he has been linked with moves to the Premier League before but he is under contract until 2028 and has shown no desire to leave the Bernabeu to date.

"I still have a contract," Rodrygo said over the summer. "When I say it was a pleasure to be here all these years, I don't say it because I'm leaving but because it has been a pleasure for me.

"It's still a dream, I have a contract, and I'm sure I'll stay."

Sources have revealed to TEAMtalk that as well as a new winger, Man City are looking to sign a new attacking midfielder to replace club icon Kevin De Bruyne.

The 33-year-old is out of contract at the end of the season and is unlikely to pen an extension, with a free transfer to the Saudi Pro League or MLS on the cards.

We understand that Man City have identified Bayer Leverkusen's Florian Wirtz and Bayern Munich's Jamal Musiala as key transfer targets in preparation for De Bruyne's exit.

The Bundesliga duo are considered to be two of the most exciting young propsects in the world and have a number of top clubs chasing their signatures.

Signing the duo will not be straightforward, however, as it'll take over £100m to lure them away from their respective clubs.

We feel that Man City's pursuit of Wirtz and Musiala makes it unlikely that they will splash €150m (£126.2m / $163.2m) on Rodrygo next summer, as Fichajes' report suggests.

Man City planning swoop for Real Madrid's star winger Rodrygo