The Paraguay international has yet to agree to the swap and should he refuse to leave the Eastlands then City would just pay £27million to complete the deal, according to The Mirror.
Silva would receive £80,000-a-week at City, but a deal will not be finishing until he returns from international duty at the World Cup with Spain and passes a medical.
Chelsea manager Carlo Ancelotti will be disappointed to see City get a deal done for Silva as the Italian was hoping to bring the Spaniard to Stamford Bridge this summer.