Pep Guardiola's Manchester City sign Erling Haaland, check details HERE

Premier League side Manchester City have confirmed the transfer of forward Erling Haaland from German club Borussia Dortmund, the club confirmed in a statement on Tuesday (May 10).

It is believed that Manchester City have triggered Erling Haaland's release clause of $60m, which works out at around £51m at his club Borussia Dortmund which plays in the German league Bundesliga.

"Manchester City can confirm that we have reached an agreement in principle with Borussia Dortmund for the transfer of striker Erling Haaland to the Club on 1 July 2022," the club said in a statement.

Earlier, speaking ahead of City's crucial Premier League trip to Wolves in the Premier League, manager Pep Guardiola effectively confirmed the imminent signing of Haaland.

Erling Haaland to Manchester City, here we go! Haaland has passed medical tests as new Man City player today, he’s back in Dortmund. It will be OFFICIAL this week #MCFC

Man City told BVB board that they will activate release clause [closer to €60m than €75m] in few hours. pic.twitter.com/heYobi8S1Y

— Fabrizio Romano (@FabrizioRomano) May 9, 2022

At the same time, Dortmund posted an official update on their own website, noting that the transfer will give them a 'positive effect' for the 2022/23 financial year.

"Player Erling Haaland ("Player") is about to transfer from Borussia Dortmund GmbH & Co. KGaA ("BVB") to Manchester City Football Club Limited ("Manchester City"). All parties have agreed on the basics of this today. The contractual details still have to be coordinated and documented.

"The implementation of the transfer is also subject to proper and timely processing in accordance with the provisions of the FIFA Transfer Matching System (FIFA TMS)," Dortmund said in a statement on Tuesday.

"With the realisation of this transfer business, the management expects a positive effect on the key earnings figures for the 2022/2023 financial year in the order of around EUR 35.0 million -- 40.0 million," it added.

With IANS inputs