The 34-year-old four-time African player of the year — capped 102 times and a member of the Ivory Coast side that ended a 23-year drought in lifting the 2015 Africa Cup of Nations — is organising through his agent Dimitri Seluk to ensure the money goes to those it is intended for.
“We want to help the victims — the families of the dead or those who are now in hospital,” Seluk told the BBC.
“I spoke to Yaya on Tuesday and he was very shocked by the terrible news.
“We have arranged with the Manchester Evening News (the local newspaper) to help us get the money to the people who really need it. We don’t want to send it somewhere and nobody knows where it will end up
— we want to make sure it goes to people for whom every penny helps.”
Seluk added that Toure is still in England despite the Premier League season drawing to a close last Sunday and so will be able to turn up in person to hand over the cheque.
“I think it will take a few days to organise it, but Yaya is in England and can come and present the cheque whenever it is needed,” said Seluk.
“Yaya loves Manchester and has a big affinity with the city and its people. “This fund is a chance for us to get the money to the right people, which is very important.”