The England international has been on the City wanted list since the end of last season and having missed out on Dani Alves earlier this week, has now become a priority for Pep Guardiola.
Walker, who joined Spurs from Sheffield United in 2009, looks set to become the world’s most expensive defender and could team up with City on Monday prior to the start their pre-season tour of the USA.
Guardiola has been looking to strengthen the City backline after releasing veteran defenders Pablo Zabaleta, Bacary Sagna and Gael Clichy, with Monaco left-back Benjamin Mendy also understood to be a target.
Walker is expected to become City’s fourth signing of the summer, having completed a £42.5million deal for winger Bernardo Silva and paying £35million to Benfica for goalkeeper Ederson.
Daniel Candeias says he is desperate to kick-off his Rangers medal collection after pledging his future to the Ibrox side until 2020.