For the past two seasons, the Portugal international has been considering a move away from the Etihad Stadium, owing to personal issues.
The 27-year-old, who joined from AS Monaco in the summer of 2017, is said to be dissatisfied with his life in the North-West of England.
As a result, Bernardo Silva has been looking for a move closer to home, and the prospect of moving to La Liga has been appealing to him.
However, financial issues with the two clubs most likely to sign the Manchester City midfielder have put a halt to any such move.
Barcelona appeared to be the most likely destination for Silva, who has been instrumental in Pep Guardiola’s success at the Etihad Stadium.
However, due to financial constraints at the Camp Nou club, any progress in negotiations and a transfer stalled significantly until this summer, when Barcelona used economic levers to secure the signings of marquee players such as Robert Lewandowski from Bayern Munich and Raphinha from Leeds United.
According to journalist Gerard Romero, Barcelona and Manchester City have finally reached an agreement on a transfer fee for Bernardo Silva.
While some media outlets reported that the Premier League champions had taken a hardline stance on a €100 million valuation of the Portuguese star, Romero’s claim contradicts that figure.
It has now been reported that the two clubs, which have close ties in hierarchical positions, have agreed on a fee less than €80 million.
The journalist goes on to say that the figures mentioned for Bernardo Silva are between €50 million and €55 million.
Manchester City are still expected to be active during the summer transfer window’s final weeks.
Following the failure to sign Brighton’s Marc Cucurella, club officials are still looking for a senior first-team left-back.
However, targets in the position are scarce, with VfB Stuttgart’s Bona Sosa and Benfica’s Alex Grimaldo mentioned as potential options.
If Bernardo Silva leaves, City will almost certainly return to the negotiating table in search of a new central midfielder.
The club has high hopes for Borussia Dortmund’s Jude Bellingham, but a deal for the England international this summer appears unlikely.
That could sway the Premier League club towards Olympique Lyonnais’ Lucas Paqueta, a player admired by club officials and scouts.