Willy Caballero excelled under Manuel Pellegrini at Malaga.
Willy Caballero excelled under Manuel Pellegrini at Malaga. [Reuters]Reuters

Manchester City are set to sign experienced goalkeeper Willy Caballero from Malaga, according to reports.

The 32-year-old - who is largely considered one of the most consistent performers in Spain - shone under former Malaga boss Manuel Pellegrini and was instrumental in helping the club qualify for the Champions League for the first time in their history two seasons ago – where they made it to the quarter-finals before narrowly losing to Borussia Dortmund.

Pellegrini has reportedly been considering a move for Caballero since last season and is keen to bring in some competition for Joe Hart following the departure of Costel Pantilimon, who has left the club to join Sunderland.

According to the Daily Mail, the Argentine is about to join the English club for £7m. Negotiations between both clubs are ongoing after an agreement between the 'keeper and City's director of football Txiki Begiristain was met.

Former Barcelona goalkeeper Victor Valdes has also been heavily linked with a move to the Etihad.

However, Caballero's arrival would seemingly close the door on the Catalan joining the club. Valdes is currently without a club after Monaco broke the preliminary agreement they had in place with the player and his contract at the Camp Nou expired on June 30 with no possibility of Barca renewing his deal.

Valdes himself has never hidden his admiration for the Premier League, recently admitting it would be a good option for him.

"I've always identified with your football, the way the supporters live the game and the respect they show the players," he said earlier this year. "It is one of the biggest leagues in the world, with the best clubs in the world and, without a doubt it's a very good option for me."

City are also considering a move for Brighton's Keiren Westwood who is a free agent.