City's move for the Arsenal midfielder was authorised by owner
Sheikh Mansour during a meeting with key personnel this
week.
Although their swoop for Fabregas is dependent on a top-four
finish, they plan to start the bidding at £50m in an attempt to see
off Barcelona.
City now have a "1-2-3 wishlist" of world class targets that is
topped by Fabregas, followed by Ferdnando Torres and Barca striker
Zlatan Ibrahimovic.
Although Fabregas has made it clear he wants to return to Barca
if he quits Arsenal, City have been undeterred after taking initial
soundings.
The Arsenal skipper has made it clear his next move is not about
money and that he wants to win league titles and compete for the
Champions League.
City intend to make "three or four impact signings" in the
summer as they aim for a crack at the title next season.
They are convinced that if they can finish fourth they will be
able to attract the calibre of player that can win the Premier
League title.
Fabregas is the personal choice of Mansour, who wants to add
creativity to City's midfield, but other signings are on the
way.
City are close to agreeing a deal with Hamburg for right back
Jerome Boateng and he will sign in the summer.
They are also chasing Inter striker Mario Balotelli as they
prepare to strengthen their squad for a crack at the
title.
City's move for Fabregas is the most audacious of the lot, but
the top brass are well aware just how difficult it will be to prise
him away from Arsenal.
Although City did business with the Gunners last season for
Emmanuel Adebayor and Kolo Toure, their move for Fabregas is on a
different level.
Barcelona have made it clear they intend to pursue Fabregas this
summer and he was spotted mixing with dignitaries at the Nou Camp
on Tuesday night in VIP lounges.
City are convinced that they will compete for the Premier League
title next season, but their recruitment policy and the move for
Fabregas depends on finishing fourth this term.
Chairman Khaldoon Al Mubarak reiterated the target during a
meeting with City chief Roberto Mancini this week.
They have discussed a number of other transfer targets, but face
big competition from Real Madrid for Benfica duo Angel di Maria and
Brazilian defender David Luiz.
City's long-term strategy is to follow Barcelona's model and
sign young players capable of forcing their way into the first
team.
Luiz, who has made his name at centre half this season, is among
the options being considered as City gear up for their summer
spending.