Manchester City have signed centre-back Ruben Dias from Benfica in a transfer worth an initial £62 million ($112m AUD) with Nicolas Otamendi heading the opposite way in a separate deal.

Manchester City manager Pep Guardiola will be crossing his fingers and his toes that Ruben Dias really is the right man to fix his leaky defence after his side conceded five goals to Leicester City — especially if he was just their second choice.

On a night it shipped five goals to Leicester in a 5-2 humiliation at home, Manchester City has agreed a deal for more defensive reinforcements.

The Foxes are chasing the Saint-Etienne centre-back as they look to add defensive reinforcements.

Manchester City announced the signing of Portuguese international centre-back Ruben Dias on a six-year deal from Benfica on Tuesday.

Manchester City are reportedly ready to give up two players in a deal for Napoli star Kalidou Koulibaly.

Darwin Nunez scored a stoppage-time equaliser as Rangers squandered a two-goal lead to draw 3-3 at 10-man Benfica and see their 100 per cent start in Europa League Group D come to an end on Friday morning (AEDT).

Manchester City's preparations for their eagerly awaited Champions League showdown against Real Madrid have been thrown into flux by the news teenage centre-back Eric Garcia will not sign a new contract at the club.

Nathan Ake has joined Manchester City, with Pep Guardiola's side reportedly paying Bournemouth £41 million (A$74 million) for the centre-back.

This is how the Man City squad player ratings look on FIFA 21 Ultimate Team, with EA releasing the top 1000 highest-rated players ahead of the FIFA 21 release date.