Nicolas Otamendi
Nicolas Otamendi is eager to leave Valencia for a bigger club Getty

Manchester United and Manchester City are ready to launch offers this week for Nicolas Otamendi after officials from both clubs held a crucial meeting with the agents of the Valencia centre-back in Porto during the weekend, according to Spanish newspaper Super Deporte.

The Argentinian international has been tipped with a summer move away from Valencia since his agent, Eugenio Lopez, revealed earlier in May that his client was likely to make a step up in his career.

"Two months ago Nicolas already told [former president] Amadeo Salvo he wants to leave Valencia this summer. If there's an offer from a club we consider a top club, and it benefits his family, Nico wants to go. There are many discussions with several clubs who want to sign Otamendi," Lopez said on 25 May to Cadena Ser.

Spanish newspaper Super Deporte then reported that both United and Real Madrid were interested in securing his services while Cadena Ser later adding that Manchester City have also joined the race for the Argentinian.

However, Otamendi has seen his desire to move away delayed by Valencia's refusal to negotiate his departure unless any club accepts to match his full €50m (£34.8m, $54.1m) release clause.

Marca recently revealed that the player, who is still on holiday following his participation in the Copa America, had urged his agents to accelerate the negotiations in order to resolve his future before he returns for pre-season training with Valencia on 26 July.

Now Super Deporte reveal that Lopez and prestigious Jorge Mendes indeed had two different meetings in Porto last weekend with officials from both United and City in order to prepare the next move in the negotiations.

The Spanish publications claim that both Premier League giants agreed to launch formal offers to Valencia before the end of the week to secure the services of the Argentinian international.

Otamendi, meanwhile, waits for a response in his homeland hoping Valencia will accept either of the two offers before having to return to training with the La Liga side.