Grealish leaves his boyhood club Villa having made 213 appearances and scoring 32 goals since making his senior debut in 2014.
It will be the second time City have held the British transfer record after the arrival of Robinho from Real Madrid in 2008.
We are delighted to announce the signing of @JackGrealish on a six-year deal.
Welcome to City, Jack! 💙
— Manchester City (@ManCity) August 5, 2021
Sources have told ESPN that Villa offered Grealish, their captain, a vastly improved deal to stay at Villa Park, but the 25-year-old has chosen to join City because of the lure of top trophies and regular Champions League football.
City first proposed a deal including £90m in transfer fees and winger Morgan Rogers — who is valued at £10m — but a straight cash offer of £100m has triggered a release clause in Grealish’s contract.
Kane wants to move to the Etihad, but Spurs are privately adamant he is not for sale. Sources have told ESPN that City believe they can finance deals for both Grealish and Kane this summer through player sales.
City have raised £109m through sales since the start of the pandemic and could raise another £50m this summer, even without a first-team player leaving.