The Premier League champions have tabled a staggering £100 million bid for the Villa captain, which would make him the costliest signing in Premier League history, surpassing the £89 million spent by Manchester United on Paul Pogba in 2016.
It was reported on Friday that members of Grealish's camp are 'split' over the impending decision on his future - whether he should stay at Villa and help their growing project in the coming years, or sign for City and challenge for the biggest prizes in the game under Pep Guardiola.
As per recent reports, Grealish is expected to return from holiday on Monday, with all parties to be made known where his future lies in the space of a week.
According to Jack Gaughan and Adrian Kajumba of The Daily Mail, Grealish is set to complete a move to the Etihad Stadium next week, with City and Villa negotiating over a fee, as it has been suggested that the 25-year-old has agreed personal terms over a huge contract with Pep Guardiola's side.
The report from The Daily Mail also mentioned that Grealish will receive a 'significant uplift' on his current £160,000-per-week wages at his boyhood club,
Additionally, as per David Ornstein and Sam Lee of The Athletic, Villa's rejected bid worth £25 million for Southampton star James Ward-Prowse has no relation to a potential deal for Grealish, which has been described as 'moving along quickly'.
The Blues have matched the reported £100 million figure that Villa were demanding to sell their academy graduate, and with there being slim hopes of tying Grealish down to a new contract, it is down to Birmingham outfit to cash in on their talisman and invest those funds in other areas of the squad.
However, according to TransferChecker, negotiations are not in a very advanced stage, but are moving in a positive direction. It has been said that Villa will make a last-ditch attempt to keep hold of Grealish by offering him even better terms.
The reports further mentions that should he refuse to extend his contract, Grealish, who wants to leave and compete for major trophies, will be sold to City ahead of the new campaign.
You can follow us for live updates here: @City_Xtra