Pellegrini has his eyes on Pepe.
Real Madrid centre-back Pepe has once again emerged as a transfer target for Manchester City, with the 2012 Premier League champions needing to fork out €30m for the Portuguese, reports Marca.
The defender has been linked with a move to the Etihad Stadium in the past and despite Madrid president Florentino Perez stating that the club do not want to sell the 30-year-old.
Pepe has strong competition at the Santiago Bernabeu with the emergence of French starlet Raphael Varane and along with Sergio Ramos, Raul Albiol and Nacho, is one of five central defenders available to new manager Carlo Ancelotti.
The Portugal international is contracted at Madrid until 2016 with wages of around €3.5m-a-year – a sum City are willing to double in order to tempt Pepe to England.
The Brazilian-born player was a regular feature in Jose Mourinho’s last season in the Spanish capital, featuring 42 times in all competitions including all but one of Madrid’s Champions League matches en-route to the semi-finals.
Pepe has also played 51 times for Portugal but is likely to be vying for a first-team place at the Bernabeu with young upstart Varane, who has been dazzling fans and pundits alike with his mature defensive displays despite being only 19.
New Manchester City boss Manuel Pellegrini will be well aware of the Portuguese defender’s capabilities having managed Pepe for a season at Madrid in 2009/10, as well as having managed in the La Liga for the whole of the centre-back’s time in Spain since a £26.4m transfer from FC Porto in 2007.