The Premier League champions have been linked with a double swoop for the England international pair, who have both been heavily linked with big-money moves to the Etihad Stadium this summer.
While City's pursuit of Grealish is at a far more advanced stage, with the 25-year-old awaiting the green light from his boyhood club to seal a switch to the Manchester outfit next week, the club are yet to agree terms with Spurs chairman Daniel Levy for Kane, with less than two weeks before the opening day of the new league season.
It was reported recently that the Sky Blues will not be signing Kane and Grealish in the same window, despite several sources suggesting that City are looking to sign both ahead of the 2021/22 campaign.
This claim has been backed by Liam Corless of Manchester Evening News, who has stated that City's hopes of landing Kane will 'end' should they succeed in signing Grealish for financial reasons, unless the club generate significant revenue from player sales before the transfer window closes on August 31.
City are growing increasingly confident of sealing a British-record deal for the 25-year-old, with reports suggesting that Grealish is expected to undergo a medical in the coming week after returning to the UK from holiday on Saturday.
The club are convinced that Grealish believes his future lies at the Etihad Stadium, as sources close to the midfielder have stated that the Villa skipper is more determined than ever to compete for major trophies after witnessing fellow England internationals Phil Foden and Jude Bellingham star in the last season's Champions League knockout stages.
Though City have generated upwards of £50 million from fringe player sales, the club are working to raise funds up to £100 million to aid them to pursuit of the attacking pair, with there being reports claiming that at least one senior star will have to seal an exit if City are to stand a chance at signing both Kane and Grealish.
While City are waiting for Villa to respond to their reported £100 million offer for Grealish, Kane is only due to return from his extended leave on Monday, and he is expected to hold talks with Tottenham to try and force a move to City.
It has been stated that once a deal for Grealish is done and dusted, City will turn their attention to signing Kane, and trying to negotiate terms with Levy, who has reportedly agreed to sell the 28-year-old ahead of the new campaign.
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