Manchester City will only sell Carlos Tevez to a European club for the inflated price of £50m.
A £40m deal to take the striker to Brazilian side Corinthians looks to have fallen through after a dispute over the payment structure.
Tevez's former club have until 4am BST on Thursday to resolve the issue before their transfer window closes.
Real Madrid and Inter Milan are thought to be interested in the Argentinian international, but City are reluctant to sell the 27-year-old to a Champions League rival.
The forward has repeatedly spoken of his wish to return to South America to be closer to his two daughters.
