Parma has reached an agreement with Premier League team Manchester City for the signing of Bulgarian Valeri Bojinov, according to Italian news reports.

Parma president Tommaso Ghirardi was quoted as saying "we have found an agreement with Manchester City," according to the Gazzetta di Parma.

“I am satisfied, as we had been carrying on these negotiations since January,” explained President Tommaso Ghirardi.

“Over time the price-tag rose and lowered. We received all the documentation now, so on Wednesday we’ll announce the details in a Press conference.

“We have reached an agreement with Manchester City. Bojinov had received offers from Sevilla and other teams, but his desire to stay was essential.

“I am very grateful to Valeri, who strongly wanted to remain at Parma. The details of the contract will now be hammered out between our director and the players’ staff.”

The price of the deal was not immediately clear.

Recent reports have suggested that City want EUR 4 M for the hitman, who has made an impressive performance since joining the Ducali on loan last summer, scoring eight goals in 29 games.

Parma however is expected to try to bag him for much less – EUR 1 M.

Bozhinov, 23, has repeatedly said he is keen to stay in Italy.

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