The Mirror reports that City are hoping to beat their local rivals Manchester United to the Argentina international’s signature.
City officials have reportedly already contacted their Benfica counterparts regarding a move for the 23-year-old.
Gaitan has impressed for Benfica in their Champions League clashes with Manchester United earlier this season.
United have been keeping tabs on the highly-rated youngster for the past year and have had their scouts watch him several times this season.
