The mega-deal would make the Barcelona striker the highest-paid footballer in the world, earning £24m a year.
That dwarfs the salaries of top stars such as Lionel Messi, Cristiano Ronaldo and Kaka.
City representatives made their mouth-watering offer direct to Ibrahimovic's manager Mino Raiola to show how much they want to capture the Swedish international.
The huge deal dwarfs the 11m euros a year the striker picks up at the Nou Camp.
Ibrahimovic is unsettled at Barca despite joining only last summer in a 50m euro deal that also took Samuel Eto'o from Barcelona to the San Siro.
The enigmatic forward fell out with Barca coach Pep Guardiola in February and the pair barely speak now.
Ibrahimovic is upset he has not been a regular starter and he has clashed with his coach over Barca's style of play.
So the chance to be involved in building a new club to rival Europe's best is an attractive proposition, especially with such a salary on offer.
The striker is familiar with City boss Roberto Mancini after the pair's time together at Inter Milan.
A source close to Ibrahimovic said: "City have shown how much they want Zlatan and although he is well paid at Barcelona this offer is in a different league.
"It has given him plenty to think about especially when he is not so happy with his football at Barca.
"The idea of being part of a move to create a new super club to challenge the very best in Europe is also attractive.
"City have to agree a deal with Barcelona before this can go any further - but there's a feeling that could all happen fairly quickly now."
Unsettled Brazilian star Robinho could move to Barcelona as a makeweight in the deal.
Ibrahimovic's arrival would raise more questions about the futures of strikers Carlos Tevez, Emmanuel Adebayor, Roque Santa Cruz and Craig Bellamy as City continue their spree.
wowow. that is alot of $$$$.
wtf?
hmm 500K a week
he earn 10M to 20m a month?
Mario Balotelli has travelled to Manchester for a medical
Manchester City manager Roberto Mancini expects to sign Inter Milan striker Mario Balotelli "today or tomorrow" and admitted the deal was "close" to completion on Friday.
Balotelli has been on City's radar all summer and flew into Manchester to undergo a medical on Friday, a day after it looked as though the deal may have stalled.
But after talks between the two clubs on Thursday, the negotiations progressed and the Italian striker now looks set to move to the Premier League in a deal Gazzetta dello Sport reports is worth €28 million.
"We are close with Balotelli," Mancini told a press conference on Friday morning. "Hopefully today or tomorrow. Mario is on his way here today."
Balotelli's Inter team-mate Marco Materazzi admits it is not good news for the team's chances this season. "I am happy for Mario, but we will be weakened by his departure," he told Gazzetta.
Mancini also said James Milner was close to signing from Aston Villa, although they are still sorting out the details of the deal. "I think it will be okay but we need another two or three days," he said. "When you do a deal, everything must go in a good way for everybody, so we probably need another two or three days for this situation."
It is reported that the Milner deal is being held up because Stephen Ireland - who is due to be part of a part-exchange deal is demanding a £2 million pay-off. Asked whether that was the case, Mancini replied: "I don't know about that."
Aston Villa caretaker manager Kevin MacDonald said on Friday: "The latest about Milner is that talks are still ongoing. Nothing can be done today in terms of him being signed in time to play tomorrow. James has been put in the squad and will be available to play for Aston Villa against West Ham."
Mancini rejected suggestions City are set to buy Benfica defender David Luiz and Barcelona striker Zlatan Ibrahimovic.
Mancini was non-committal about Robinho's chances of remaining at Eastlands, but there is no place in his plans for Craig Bellamy, who is attracting interest from Fulham, Tottenham, Sunderland and Celtic. "I have to choose 25," Mancini said. "The rest must find another team. Craig is out of the list."
Bellamy this week claimed he had not spoken to Mancini in several months, but the Italian said: "What he has said is not important because it is false. I speak with the players every day and Craig always played for me last year. This year I choose other players. I am the manager and it is my choice."
Mancini also rejected suggestions City are set to buy Benfica defender David Luiz and Barcelona striker Zlatan Ibrahimovic, with Balotelli and Milner set to represent the final deals of the summer. "After these two players - finished," Mancini said.
Inter Milan bad-boy ‘Super’ Mario Balotelli is on his way to England to undergo a medical with Manchester City.
Balotelli has long been linked with a move to City and boss Roberto Mancini is keen to be reunited with the youngster he snapped up as Inter coach in 2006.
The striker, who turned 20 on Thursday, is believed to be making the switch for an initial fee of £20million with an extra £3m to be paid in add-ons.
The move would cap a memorable week for Balotelli who made his international debut with Italy on Wednesday night.
In town: Balotelli in Manchester for his medical
And the European champions have now given him permission to travel to England, on a private jet laid on by City, to finalise the deal.
His arrival will come too late to be registered for the season curtain-raiser against Tottenham but he is expected to make his debut in the clash with Liverpool on August 23.
haha man city. championship manager come true.
man city should go for kaka again, maybe this time he will join man city. why no news on man city bid for torres, instead bid for balotelli? city should also bid for buffon, best goalie in the world.
Why would they want Kaka now? Anyway that guy is injured for like 4 months so no point wasting one spot of their 25 on him...
Actually they have been after this Super Mario, the "Italian Rooney" all summer...
although he is 28 and injured for a few months, but he is still a class above everyone. zidane joined RM when he was 29 and he played there till he was in his mid 30s, a good 5-6 years. same as figo when he joined from barcelona to RM in his late 20s.
Man CIty got to delivery something this season... if not... they will have another new manager by the end of the season... lol.
try winning something, like league cup for a start or fa/europa cup and finishing 4th is the very minimum.
yeah... i think with the NEW Players they have purchased, they should be a contender for Champions League Qualifying placings.