Maicon's contract with the Nerazzurri will expire at the end of next season, meaning he could leave Inter for free in June 2013.
Although neither club has officially announced news of the deal, speculation is gathering pace ahead of Friday's transfer deadline and Inter coach Andrea Stramaccioni has said he would not stand in Maicon's way.
"It's not a totally new situation," Stramaccioni said according to the ANSA news agency.
"In the right-back position I have (Javier) Zanetti and Jonathan (Moreira), although Maicon has very unique qualities.
"Let's see what happens. If he stays, then great. Otherwise, we'd be willing to say farewell to a great player."
Sky Sport Italia claimed Thursday that Maicon had already agreed terms with the Premier League champions, with a headline on it's website proclaiming "Maicon-City - it's done."
The website also claimed Inter had been hoping for 8million euros from the sale, but that City had so far only offered 4.5million.
Maicon has already been linked with a move to Roberto Mancini's City side.
Media speculation in the UK in August last year suggested the 31-year-old was the potential makeweight in a deal that would have seen City firebrand Carlos Tevez move to Inter in a cash plus player swap deal.
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