Santa Cruz spent last season on loan with the Seville outfit.
He is one of the players Man City want off their payroll, and the Daily Mirror report that he is ready to tear up his contract to secure a return to Spain.
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Since Guus Hiddink arrived at the helm, Chelsea have improved considerably after a tricky start to the campaign.
Newcastle United are staring down the barrel of relegation to the Championship for the second time in the past eight years.