Seluk told Sky Sports News that he and Toure were keen to do anything they could to provide assistance to the victims of the attack.
"Yaya and I want to help. We talked this morning about what happened and he asked me what he thought we could do. We have agreed to donate £50,000 each to help the victims of this terrible crime. It doesn't matter whether the victims are from Manchester or not," said Seluk.
The agent revealed that he and Toure wanted to give something back to football, given the opportunities they have received from the game.
"Those of us lucky enough to work every day in football can do so because of the generosity of fans across the world. Today is a chance for those of us in football to help out," Seluk said.
"Yaya loves Manchester. He loves the people who have made him very welcome and he has been very shocked by this attack on the city. We all cried when we heard that children had been killed and injured. To see on the news that an eight-year-old girl had died was terrible. Our only demand is that every single penny of the money we give goes to the people who need it.”
An online fundraising campaign organised by the Manchester Evening News had raised over £700,000 as of Tuesday night.
