Manchester City are reportedly in advanced negotiations with Barcelona over a swap deal to bring Nelson Semedo to the Etihad Stadium and send Joao Cancelo in the opposite direction.
Cancelo only joined Man City last summer in a deal worth almost £60m, but he has struggled to usurp Kyle Walker as the team's first-choice right-back, making only eight Premier League starts this season.
Pep Guardiola is understood to be considering possible replacements for the Portugal international and has identified Semedo as his top target in that area of the field.
Spanish outlet SPORT reports that Man City are willing to offer Cancelo plus cash in any deal for the 26-year-old, despite Barcelona only setting a £39m asking price for the defender.
The Catalan outfit are open to offers for Semedo, with talks over an extension to his contract - which expires in 2022 - having stalled.
Semedo has earned more regular first-team football at Camp Nou this season, making 29 appearances across all competitions, but only 16 of those have been La Liga starts.