Manchester City are ready to rival Real Madrid for the signature of Colombian hitman Radamel Falcao and will allow Stevan Jovetic to join Juventus if they can make a blockbuster addition to their squad before the transfer window slams shut.
That is according to Gazzetta dello Sport, who believe City are targeting a surprise loan to make sure they can add a genuine world-class star to their strikeforce and still adhere to UEFA's ruling on Financial Fair Play.
Monaco braced for bid
Falcao's future has been the subject of persistent speculation all summer despite the clinical forward battling back from a knee ligament injury which forced him to miss the World Cup, with Real Madrid openly courting another Monaco raid.
The 28-year-old is now showing signs of a return to full fitness and looked in good health during the Emirates Cup last weekend, which has clearly been enough to encourage City that the time may be right to pull off the cheekiest deal of the summer.
Manuel Pellegrini's men are searching for another forward after Alvaro Negredo was ruled out for three months but must be careful not to exceed a net spend of £49m this summer under FFP sanctions, which means City are also interested in a loan deal.
Premier League interest elsewhere
News of City's plans will surely alert Premier League rivals to the possibility of signing one of the planet's most potent forwards in year-long deal, although it still remains to be seen if Monaco will actually allow a star they paid £53m to leave under those terms.
Manchester United and Chelsea have both tracked Falcao for more than 12 months, but kept their interest in the £35m star to a watching brief for the time being.
Chelsea in particular would like to add another forward as direct competition for Diego Costa despite bringing in Didier Drogba for experienced cover, particularly if Fernando Torres is allowed to leave in search of regular first-team football elsewhere.
United meanwhile look top-heavy in attack but have long admired Falcao and under the right conditions would likely enter the race for his signature, with the ball now in Monaco's court as their plans for the Ligue 1 kickoff this weekend continue to be overshadowed by transfer speculation.
Jovetic as a makeweight?
Gazzetta believe that if City can somehow get the proposed Falcao deal over the line Juventus will react by moving to sign Stevan Jovetic.
The former Serie A star has looked fantastic in pre-season but is yet to make his mark in a City shirt in competitive action, managing just three goals in an injury-ravaged campaign after costing City a sizeable £22m last summer.
Jovetic showed glimpses of finding his feet towards the end of the campaign and Juve would love to bring him back to Italy if he's available.
Pellegrini will reportedly give the green light to that exit if Falcao becomes a City player in the next three weeks, but this transfer saga likely still has a long way to run before reaching any kind of conclusion.