The 27-year-old Algeria worldwide will join the Manchester side after Leicester City accepted a Club-record fee for the transfer.
Leicester City winger Riyad Mahrez has reportedly undergone a medical at Manchester City ahead of a move to the Premier League champions.
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City tried to sign him on deadline day just six months ago, but were rebuffed at the eleventh hour by the Foxes as they tried to recoup close to £100m for their player.
The deal looked to have fallen through after Mahrez went on AWOL and missed out of Leicester training for a week and 3 days, but he later returned to continue playing for the Foxes.
The 27-year-old has been a long-term target for City, and moves to the Premier League champions on a five-year-deal for a fee believed to be in the region of £60m.
He later said he had "regrets" over the dispute, during which the Professional Footballers' Association offered to be a mediator between club and player.
Riyad's progress with Leicester City also saw him firmly establish himself as a key member of the Algerian national team, with whom he played in the 2014 FIFA World Cup Finals and both the 2015 and 2017 Africa Cup of Nations.
"Watching them from afar has been a pleasure".
Mahrez made 180 appearances in Leicester City colours, scoring 48 goals.
Oblak has established himself as one of the world's very best goalkeepers during his four years with Atlético Madrid and the Slovenian global would represent a major summer coup for Liverpool, if a deal can be struck.
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