"Valencia have reached an agreement with Manchester City for the loan, with an obligatory option to buy, of the Spanish international forward Alvaro Negredo," the club said on their website (www.valenciacf.com) on Monday.
The Spanish top-flight outfit, who are in the process of being taken over by Singapore billionaire Peter Lim, did not say how long the loan deal was for.
Negredo, 29, joined City from Sevilla in July 2013 but after an impressive start his form tailed off and he missed out on a place in Spain's squad for the 2014 World Cup.
(Reporting by Iain Rogers, editing by Tony Jimenez)
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