Manchester City are reportedly interested in a swap deal that would bring Valencia left-back Jose Luis Gaya to the Etihad Stadium and send Eliaquim Mangala in the opposition direction.
Mangala is currently on loan at the Spanish outfit and has established himself as a regular in the first team at the Mestalla, making 22 La Liga appearances this season.
However, Valencia are reportedly struggling to raise the £16m asking price to make the move permanent, and the Daily Star claims that City are considering a player-plus-cash offer for Gaya as a result.
The 21-year-old full-back has previously been scouted by Arsenal, but City are understood to have moved into pole position for his signature as they prepare for a major overhaul of their squad this summer.
Pep Guardiola is expected to allow a number of his ageing full-backs to leave the club and sees the young Spaniard as an ideal replacement.
The Spain Under-21 international is valued at around £30m by Valencia, but City could part with half of that sum should they include Mangala in the deal too.