Pep Guardiola is looking to rebuild his squad (Picture: Getty) Manchester City are preparing an initial bid to sign Lyon midfielder Rayan Cherki ahead of Manchester United and Liverpool, according to reports in France. Cherki is on the radar of several top European clubs after an impressive season which saw the Frenchman score eight times and provide 20 assists in all competitions. The 21-year-old has a contract with Lyon until 2026, but has signalled his intention to leave the club in the summer transfer window. Several Premier League clubs, including Liverpool and Tottenham, are among Cherki’s admirers, while United have also been credited with interest. But Foot Mercato now suggest that City will make the first move to try and wrap up a deal for Cherki and could submit a first bid as early as next week. The report adds that the club have made Cherki their ‘priority’ signing in the attacking midfield position as they look to replace Kevin De Bruyne following his departure at the end of the season. Pep Guardiola is also said to be keen on the move and has already spoken to people close to the player, including former Lyon boss Pierre Sage. Rayan Cherki is set to leave Lyon this summer (Picture: Getty) Direct talks between Guardiola and Cherki have not taken place, but are expected to soon as City ramp up their efforts to sign the midfielder before the Club World Cup. City had initially set their sights on signing Florian Wirtz this summer, but later pulled out of the race due to concerns over the cost of a deal. Liverpool now look to be in pole position to complete a deal for the highly talented German midfielder having submitted a £109m bid to Bayer Leverkusen. Lyon set asking price for Cherki Cherki is highly admired by a host of Premier League clubs (Picture: Getty) A deal for Cherki, however, is likely to be far less expensive given the Frenchman has just over 12 months left on his contract. Reports earlier in the year suggested the 21-year-old has a £19m release clause in his contract, but those suggestions appear to be untrue. Lyon, instead, will hope to recoup a fee of around €40m (£33.7m) for Cherki. Elsewhere, City are looking for further reinforcements in central midfield negotiations with AC Milan over a deal for Tijjani Reijnders. Milan are seeking a fee of close to £60m for the Dutch midfielder who has impressed greatly in Serie A this season. For more stories like this, check our sport page. Follow Metro Sport for the latest news on Facebook, Twitter and Instagram.