Manchester City have begun negotiations with Valencia over the transfer of sought-after winger Ferran Torres.

The 20-year-old midfielder has contributed four goals and five assists for the Spanish outfit this season, but the youngster now has just a year remaining on his contract at Mestalla.

The Citizens are believed to be leading the race for the Spaniard’s signature, but Valencia’s valuation of the winger has supposedly hindered negotiations between the two parties.

City are said to be in the market for a significant change in their first-team squad this summer after they failed to retain the Premier League title.

According to The Daily Mail, Los Ches are holding out for a fee of £40million in spite of Torres’ has a deal at Mestalla until the end of next season.

Manchester United, Real Madrid and Juventus are also said to be keen on the player.