That is according to a report from Sky Sports, which claim the English club see the Argentine striker as a long-term replacement for his compatriot Sergio Aguero at the club.
City are aware that the Catalan giants are unable to pay Lautaro’s reported release clause of €111m (£98.5m) and they are willing to capitalise on his uncertain future by matching the Italian club’s demands.
Pep Guardiola’s side are said to be long-time admirers of the striker, who has scored 18 goals in 39 appears for the Nerazzurri this season.
Barcelona transfer news has been defined by their interest in Martinez this summer and claims from Diario Sport said the striker’s €111m release clause has now expired, although it is unclear if the Catalan giants were ever prepared to sanction such a fee.
Martinez’s current deal in Italy runs to June 2023 and was signed in July 2018, when Inter paid Racing Club a reported €22.7m for his services and he has swiftly established himself as a star in Italy.
The Court of Arbitration for Sport (CAS) confirmed on Monday that Man City had been cleared of “disguising equity funds as sponsorship contributions” and would be allowed to enter into European competitions as normal, boosting their hopes of high-profile transfers this summer.