According to our Spanish colleagues at Superdeporte, a deal has been agreed in principle for the sale of Nicolas Otamendi to Manchester City for €40m, with Eliaquim Mangala joining on a season-long loan without an option to buy.
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The loan deal would have cost Valencia €6m, so in theory the deal is worth €46m. The Frenchman had been playing well at the start of the Premier League season, so this move seems strange, but Superdeporte have an incredible track record.
Guillem Balague has also tweeted this evening confirming that Mangala will go on loan.