The Premier League champions are keen to add the Danish defender to their all-star cast, and have made contact.
But their valuation falls way short of Liverpool’s, and there is no chance of a deal unless a hugely improved bid comes in.
Kop boss Brendan Rodgers would prefer to keep Agger, 27, who has two years remaining on his contract.
Yet he is aware that rejecting a huge offer for a man who has been injury prone over the past couple of years would be a gamble.
Agger, who has also been on Barcelona’s radar, says he is happy to stay at Anfield.
But his agent Per Steffensen admitted there have been no talks over a new deal.
City are also keen on Roma’s Daniele De Rossi, who starred for the Italians at Euro 2012 in midfield and defence, after missing out on him in the last two transfer windows.
Meanwhile, Welsh striker Craig Bellamy, the star of Team GB at London 2012, will move from Liverpool to hometown club Cardiff on a free transfer today.
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