Milan make offer after agreeing Tevez terms
City have indicated they will only accept a permanent sale of the Argentine, who has fallen out spectacularly with coach Roberto Mancini, but Galliani hopes they can be persuaded having tempted Tevez to take a pay cut.
"I have convinced Tevez to give up a mountain of money," Galliani told Milan's TV channel.
"There is an agreement with the player and a bit ago we sent an e-mail with a proposal for City: a loan with the right to buy with certain conditions. I hope City say yes."
Galliani also said he wanted the forward to arrive as soon as possible in the January transfer window and that Antonio Cassano, out for months after heart surgery, had welcomed the possible arrival of Tevez to fill his boots while he recovers.