Silva has brought his ten-year association with Pep Guardiola’s men to an end and has been tipped to return to his native Spain to continue his career.
The 34-year-old joined Manchester City in the summer of 2010 from Spanish La Liga side Valencia and has cemented his place as a true Premier League great.
Silva, whose final game for Manchester City came in the 3-1 loss to Olympique Lyon in the UEFA Champions League quarterfinals last Saturday, made 436 appearances in total for the club, winning four Premier League titles, four FA Cups and five League Cups.
"David Silva is a transformational player; a quiet leader who has acted quietly and deliberately and inspired everyone around him, from the youngest academy player to his senior team-mates over the past 10 years," chairman Khaldoon Al Mubarak said.
"He has put a stamp on the team, on this club, its history and even the Premier League as a whole. In doing so he has been instrumental to the beautiful football philosophy you see today. He was the start of it.
"As with Vincent before him, David's statue will act as a lasting reminder of the wonderful moments that he gave us, not only as an incredible footballer, but as an inspiring ambassador who represented this football club with great dignity at all times."
