The Portugal international has joined Bayern Munich on loan for the rest of the season.

The transfer eclipses Jack Grealish’s £100m move to Manchester City in 2021.

Cancelo has left Manchester City for the German champions.

The German club can make the move permanent for £61.5million in the summer.

The Italy midfielder is set to undergo a medical and sign a one-and-a-half-year deal.

Tottenham remain cautiously optimistic about completing a transfer for Sporting right-back Pedro Porro before Tuesday’s deadline.

Manchester City are not expected to sign a replacement for Bayern Munich-bound Joao Cancelo.

The visitors had looked like frustrating the champions after an Andreas Pereira penalty had cancelled out an early Julian Alvarez strike.

Southampton are the latest victims.

Christopher Nkunku looks set to join Chelsea

And Manchester United are reportedly drawing up a plan to make another move for PSV Eindhoven attacker Cody Gakpo.