Furious Toure has told City he will buy out his contract and leave this summer unless they hand him a new deal by Saturday.
And his ultimatum has alerted Europe's top clubs including struggling Chelsea, who see the powerful Ivorian as the perfect replacement for Frank Lampard.
Toure, 29, still has two years of his £220,000-a-week deal to run and will have to stump up £22m to buy his way out of City.
Chelsea will hand him that in a signing-on fee if it means they do not have to pay a transfer fee for a player who cost City £25m from Barcelona three years ago.
Under FIFA rules, players over the age of 28 are allowed to buy out their contracts if they have not been offered a new deal after three years at a club.
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