The Citizens are in for a busy window of recruitment and want the youngsters to spearhead Guardiola's revolution at the Etihad.
Laporte has a release clause of £40 million while Everton rebuffed a £38 million bid from Chelsea for Stones last summer, suggesting a combined transfer fee will exceed £80 million.
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City's defence has proved a particular weak spot this season in the absence of Vincent Kompany and hindered their title bid, which Guardiola plans to rectify.
The Spaniard would face competition for his reported targets, of course, given Laporte is on the radar of several elite clubs in Europe, namely Real Madrid and Barcelona, while Everton have so far stood firm in rejecting all offers for their English prodigy.
The 21-year-old pair are regarded amongst world football's most talented defenders and given their ages would represent quality, long-term acquisitions.
It seems acquiring Laporte would be the easier of the two, though, given he has an outstanding release clause.
One way or another, City are in dire need of signings to freshen up an ageing squad that has failed to replicate the same destructive form of previous seasons.
Despite having plenty of options, the likes of Eliaquim Mangala, Martin Demichelis and Nicolas Otamendi have flattered to receive and lacked leadership when without captain Kompany at the back.
What Laporte and Stones would ultimately offer is versatility, especially so the latter, who can play at both right-back and centre-back.
Upon taking the reins at the Etihad, Guardiola will seek domestic success and to break the club's jinx in the Champions League, in which City have failed make their mark since their debut campaign in 2011.