But, Real Madrid have prevailed in their bid to secure the services of the 19-year-old, although the transfer fee is yet unknown - different figures have been quoted in different sources.
The deal with City also includes a 15 per cent sell-on fee but, interestingly, it is understood that rises to 40 per cent should Real sell the Spain Under-21 worldwide to Manchester United.
"I had three options after deciding to leave Manchester City".
"I have arrived at a club that I dreamed of playing for as a child", an emotional Diaz said. It was impossible to go anywhere else.
Interestingly, reports suggest that Real Madrid has promised Brahim Diaz regular first-team action, since the midfielder is making the switch after growing disillusioned with his playing time at Etihad.
Huawei punishes employees for iPhone tweet blunder
In addition, the pay rank of one of the employees - Huawei's Digital Marketing Director - will also be frozen for 12 months. Huawei's chief financial officer Meng Wanzhou was arrested in Vancouver on December 1 at the request of US law enforcement.
Díaz will undergo his medical with "Los Blancos" on Monday morning, before being presented to the Real Madrid fans at 13:30 at the Estadio Santiago Bernabeu.
The La Liga giants tied him to a six-and-a-half year contract on reported wages of £60,000 a week.
Diaz, who will play under the number 21 jersey at Real Madrid, will join a talented group of young Spanish players at the club, which already includes Marco Asensio, Dani Ceballos, Marcos Llorente, Alvaro Odriozola and Sergio Reguilon.
Madrid president Florentino Perez praised the youngster and said his enthusiasm to join the European champions will help him succeed. He has quality, magic and dreams of succeeding at this club. The England under-21 worldwide has yet to start a Premier League game but sources say he is viewed as the successor to David Silva with Pep Guardiola determined to make him a first-team regular.