Tottenham and Chelsea are both failed to sign the Romanian in the last 12 months and now City are preparing a bid, believed to be in the region of £30million.
Shakhtar Donetsk boss Mircea Lucescu, however, has warned the Blues that they will need to meet the release fee in his contract if they wish to bring him to the Etihad and he does not believe a move is imminent.
"If City want to [sign Fernandinho], the clause is €50 million [£42.3 million]," Lucescu said.
"If our players receive offers from teams higher than Shakhtar, we do everything possible to help them.
"Currently, I think Manchester City are not at our level."
Fernandinho is contracted to Shakhtar Donetsk until 2016.
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