Everton boss Ronald Koeman has ruled out a loan move to Goodison for Hart, and it is understood the England keeper will not be joining Premier League rivals Sunderland either.
Talks with the Italian club are ongoing and a deal is likely to be completed before the 31 August transfer deadline.
Hart is yet to feature in the Premier League under Guardiola, who has signed Chile goalkeeper Claudio Bravo, 33, from Barcelona.
Officials at the club have vowed to help the 29-year-old “find the best solution” in order to keep his international place. This means City could pay some of Hart’s wages to allow him to move to Serie A for the season.
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