Angelino could return to Manchester City in a £5.35million deal.
The Blues are considering activating the buy-back clause in the Spain under-21 international’s contract after he had an outstanding season for PSV Eindhoven.
The left-back joined the Dutch club in a deal worth £5million last summer, having only made one substitute appearance for City.
City initially wanted £8.9million for the player but after negotiation agreed to cut the price as long as the strict buy-back clause was inserted in the deal.
Angelino was an exciting raiding left-back in the City youth ranks, and proved adept at inverting into midfield, where his passing was a feature.
But loan spells at New York City, Mallorca and Girona were not successful, and after a better temporary spell at NAC Breda, he was picked up by PSV.
City liked his attacking abilities, but there were concerns around the defensive side of his game – many of which have been ironed out by a season the Eredivisie.
City had no intention of buying a left-back, with sources declaring that they were happy with Benjamin Mendy and Aleks Zinchenko .
There have been reports that the 22-year-old would cost around £10.7million, and also that Paris Saint-Germain wanted the youngster and had offered £22.3million.
But City’s deal last summer is also said to have stipulated that they have first option.
City were only said to be in the market for a centre-back and a defensive midfielder this summer, but have had a re-think over concerns about Benjamin Mendy’s ongoing fitness troubles.
They were not prepared to spend much of their budget on a left back, but the option of picking up Angelino on the cheap has become a real possibility.
