In a significant development, the English tabloid Daily Star has revealed in an exclusive report that Barcelona and Manchester City have reached an agreement on a transfer fee of £24.3 million for the permanent signing of Joao Cancelo.

This past summer, the Portuguese national team player, who is now 29 years old, agreed to join the reigning La Liga champions on a season-long loan agreement that does not include a buy option.

However, because of the significant impression that he has already made in such a short amount of time as a player for Barcelona, discussions regarding a permanent transfer have already been gaining weight fairly swiftly.

A fee of £24.3 million was agreed upon.

After having a disagreement with manager Pep Guardiola during the previous campaign, it is common knowledge that Joao Cancelo’s time at Manchester City has come to an end.

The right back spent the second half of the previous season on loan at Bayern Munich. He was always destined for an exit last summer, when the Premier League and European champions were holding out for a fee of £55 million for his transfer. The right defender spent the second half of the previous season at Bayern Munich.

Cancelo was adamant about moving to Barcelona, but the Cityzens eventually gave in and agreed to let him play for the Catalan club on loan for the upcoming season. Cancelo’s move to Barcelona will be temporary.

And it would appear that they have now come to an agreement with Barcelona to transfer him permanently to the club for a price that is less than half of what they were initially requesting.

Already having a significant impact in Barcelona. (Image courtesy of Getty Images and David Ramos))

Following the conclusion of the summer transfer window, negotiations between the two clubs have reportedly continued and have resulted in a settlement on a transfer fee for the full-back that has been set at £24.3 million. If the claim is to be believed, the agreement has been reached.

Cancelo has already made a significant contribution to Barcelona’s success since joining the club on the day that the summer transfer deadline passed.

In six matches in all competitions for the Catalans, he has played in, he has scored two goals, and he has assisted on another goal for a teammate, all while providing an additional facet to the Catalans’ assault from the right wing position.

It would be an incredible steal for Barcelona if they were able to get his services for the price of £24.3 million, as this would represent an incredible value for the Catalan club.