According to the information portal "Transfermarket", Fred's new agreement with "Shakhtar" is calculated up to 30 June 2023.
"Ukrainian champions Shakhtar insist that is below their valuation - but City's move is evidence of Pep Guardiola's determination to land the midfielder as a long-term successor for Fernandinho".
Fred, 24, is also supposedly a target for Manchester United, which is usually the case these days. "So to improve our squad in the midfield, we would need to buy two".
"The Catalan has drawn up his transfer priorities for the January window and at the end of the season, with a commanding midfielder one of the areas most in need of address".
Earlier, the British press reported on the likely transfer Fred to Manchester city.
The middle of the park has become a problem for Mourinho with injuries to Marouane Fellaini, Michael Carrick and Paul Pogba hampering their season.
Fernandinho took the same route as Fred possibly could do and that will give both the player and Man City confidence that a deal would be good.
According to Le Parisien (h/t Sport Witness), Guardiola gave the nod for a meeting to take place between City representatives and the agent of Nice midfielder Jean Michael Seri, with a view to a possible transfer.
That comes in the form of Arsenal's Alexis Sanchez who was thought to be moving to the Etihad this month. Nice will reportedly let the playmaker go if an offer of €40 million (£35 million) is made.
Now, it looks as though the deal is on the edge of collapse.
"Guardiola believes it is vital to secure back-up for Fernandinho, who he described this week as having played "a million minutes" already this term". Seri is technically brilliant and has a wonderful appreciation of the game.
Arsene Wenger is said to have identified Malcom as the man he wants to replace Sanchez, with the Gunners boss saying on Friday that the Chilean would only be allowed to leave if a replacement is signed.
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