Manuel Pellegrini will be announced as new Manchester City manager next week, according to Sky Sports.
The Chilean has been strongly rumoured as Roberto Mancini's replacement for some time now, but as yet no announcement form Manchester City has been forthcoming.
The former Malaga boss confirmed last week he has a verbal agreement to take over at the Etihad Stadium but said that the deal is yet to be formalised.
Pellegrini led the Spanish side the quarter-finals of the Champions League before the dramatically lost to eventual finalists Borussia Dortmund last season.
Mancini's main failing during his time at the Etihad was his inability to make a mark in the Champions League - one of the reasons Pellegrini has been targeted by owner Mansour bin Zayed Al Nahyan.
According to Sky Sports the deal has almost been completed and Manchester City will unveil their new manager next week.
One of his first act as manager of the 2011/12 Premier League champions will be to welcome to new signings to the north-east; Shakhtar Donetsk's Fernandinho and Sevilla winger Jesus Navas.