Santa Cruz, who is currently on loan at Malaga, does not figure in City's long-term plans and will leave when his contract expires this summer.
The Paraguayan forward's agent, Robson Lima, claims the player is keen on a move to Brazilian side Botafogo and that the deal could be agreed by the end of the week.
"The situation is calm, the player wants to play for Botafogo and the club is interested in signing him. There is no mystery at all," Lima told Lancenet.
"Hopefully a deal is concluded this week. We had a meeting on Friday, his father is very satisfied and so is the agent in Europe.
"You can see that Botafogo are a very serious football club, they have returned to a winning club again and the situation is very calm.
"He really wants to play for Botafogo. The formal situation already favours that he comes here.
"The Brazilian market currently attracts any great player. We have a solution within the next days."