The Gabon international, who scored 40 goals in all competitions last season, would become the club’s record signing, eclipsing the £54m paid for Kevin de Bruyne last summer.
Pep Guardiola, who will begin work as City’s head coach in July after leaving Bayern Munich, has already captured Ilkay Gundogan from his Bundesliga rivals, with the midfielder’s arrival confirmed earlier this month.
According to the Daily Mail, although City’s initial offer for Aubamyang was turned down, they remain confident that a deal can be done after positive negotiations between the two clubs.
Aubameyang has become one of the most coveted strikers in European football over the last few seasons, with both Real Madrid and Barcelona tipped as potential destinations in the recent past.
The 26-year-old is keen to play in La Liga before he retires but interest from Spain has cooled, given the calibre of both clubs’ strike forces. He does, however, also desire to experience the Premier League and has reportedly taking English lessons.
Earlier this week, Khaldoon al-Mubarak, the City chairman, publicly assured that Guardiola would be backed in this summer’s transfer market.
“We will invest as we have always done in this club, in this team,” he said.
“We will provide the necessary resources for Pep to build a team that has the ambition and the capability to go and win back this Premier League, to go as far as we can and try to win the Champions League, and keep pushing in the cups.”