City chief executive Ferrna Soriano and sporting director Txiki Begiristain met Juventus officials in London yesterday to thrash out the move.
Tevez, above, who had only one year left on his contract, will have a medical in Turin today before signing a three-year contract.
City officials were last night delighted with the deal that ends their fears of the player walking out on a free transfer at the end of his contract next summer. Juventus have agreed to pay £7.5m up front for the Argentina striker and will pay £2.5m in bonuses if they qualify for the Champions League in each of the three years of his contract.
They will hand over a further £2.5m if they win either Serie A or the Champions League in each of the next three years.
City will also save £17m in wages and bonuses they would have had to pay Tevez during the final year of his five-year contract. It could all add up to £27m – for a player who cost them £25m.