Pellegrini is keen to sign one of his former players as a replacement for Pantillimon. City are understood to be ready to make a move for Malaga keeper Willy Caballero.
Spanish giants Barcelona are also said to be interested in the Argentinian shot stopper. Caballero is considered one of La Liga’s top keepers and, at 32, is in his prime, so the move would be considered quite a coup for the Blues.
Caballero worked closely with Pellegrini while the Chilean was at Malaga and is understood to have come close to joining City last summer.