News of the World says Hughes is desperate to bring in Lescott this summer and is ready to sacrifice Richards in order to sign the 26-year-old.
Everton chairman Bill Kenwright will hold out for a big bid as the club need the defender, as Phil Jagielka could be out of action until Christmas with a injury.
Reports suggest City are ready to almost double Lescott’s £45,000-a-week wages.