EXCLUSIVE | By Manchester correspondent Alex Stevens

Inter Milan are ready to make a formal move for Yaya Toure by submitting a £14.5million bid for the Manchester City midfielder, Football Insider sources understand.

The Italian club have made no secret of their admiration for Toure and desire to add him to Roberto Mancini’s squad this summer.

Inter have already opened preliminary negotiations with City about a deal that could reunite the Ivory Coast powerhouse with Mancini, his former manager at Etihad Stadium.

Football Insider reported in March that the Premier League outfit are willing to listen to offers for Toure as they undertake a radical overhaul of a squad that has failed to live up to expectations this season.

Toure has two years remaining on his City contract but he turned 32 last week and the club are keen to free up space on their wage bill by releasing one of their top earners.

It is understood that the 2012 and 2014 English champions are ready to embark on a world record spending spree of around £220m this summer to provide the manager with a squad that can win the Premier League and the Champions League.