The La Liga club will then be obliged to complete the signing on a permanent basis next summer.

"Valencia football club have reached a agreement with Manchester City for the loan, with obligatory option to buy, of the Spanish international striker Alvaro Negredo," said a statement on Valencia's website.

Negredo joined City from Sevilla last year for a reported fee of �16 million ($27.3 million, 20.3 million euros) and played a major role in Manuel Pellegrini's side's Premier League and League Cup success last season.

The 29-year-old scored 23 goals in 49 appearances in all in England, but was hampered in the second-half of the season by injury, which led to him being excluded from Vicente del Bosque's World Cup squad.

Negredo hasn't yet featured this season after breaking a bone in his foot during a pre-season friendly in July and is expected to return to action in October.

The deal seals a busy final day of the transfer window for Los Che as they also signed Brazilian midfielder Filipe Augusto on loan from Rio Ave.

Veteran Portuguese international Helder Postiga meanwhile had his contract with the club rescinded to sign a one-year deal with Deportivo la Coruna and Jonathan Viera has joined Standard Liege