City swoop for Petrov

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The 28-year-old has passed a medical and joins on a three-year deal, subject to receiving a work permit.

Petrov, whose former clubs include CSKA Sofia and Wolfsburg, becomes new manager Sven-Goran Eriksson's fourth signing after Rolando Bianchi, Gelson Fernandes and Geovanni.

City chief executive Alistair Mackintosh highlighted Eriksson as a major factor in Petrov's arrival.

"Unsurprisingly given the calibre of the player, there were a significant number of clubs competing for Martin's signature, and I am absolutely delighted he has come to Manchester City," Mackintosh told mcfc.co.uk.

"Having Sven-Goran Eriksson as our manager proved to be a major factor in the player's decision to move here."

Petrov is a regular for Bulgaria, with more than 60 caps to his name, and was allowed to leave the Vicente Calderon as Atletico line up Benfica winger Simao Sabrosa.