Bayern Munich have agreed a fee of £54.8m with Manchester City for Leroy Sane, with the German set to sign a five-year deal at the club.
The Bundesliga champions will pay an initial fee of £44.7m (€49m) with a series of performance and trophy-related add-ons.
City will also take 10 per cent of any profit made by the German club should they sell Sane in the future.
The 24-year-old has continually been linked with a move back to his homeland. It is believed the winger will double the wages he was being offered by City to stay at the club.
City signed the winger from Schalke in 2016 for £37m with Guardiola recently admitting the player would leave in the summer if a deal could be agreed.