There have been reports that Pep Guardiola’s side are closing in on the signing of the 25-year-old England international for a club-record fee.
City are likely to shatter the British transfer record for Grealish, and his arrival could also affect the future of Bernardo Silva at the club.
Silva has been a quality player for Manchester City since joining them from Monaco. Still, he struggled to hold down a regular starting berth last season, and he could fall further down the pecking order once the signing of Grealish is secured.
Silva has proven his quality in the Premier League, and he would be a sensational addition for both Spanish clubs.
The Portuguese international can operate as an attacking midfielder and a winger, and Atletico Madrid could undoubtedly use a creative player like him in their attack.
Manchester City are well stocked in the attacking midfield department, and losing Silva is unlikely to weaken them.
It will be interesting to see if the likes of Barcelona or Atletico Madrid follow up on their interest with a concrete offer for the 26-year-old in the coming days.
Barcelona, in particular, are thought to be under financial pressure, and Manchester City must keep their demands reasonable for any transfer to go through.