It has been revealed that Brazilian club Corinthians is set to announce that they are pulling out of negotiations with Manchester City for want-away striker Carlos Tevez.
A source close to Corinthians president Andres Sanchez revealed that the Premier League side City have demanded shorter payment terms and the first instalment of a £35 million deal up front.
The source, who is close to the talks and did not want to be named, told Reuters : “(City) want to see the money and Corinthians won’t commit financial madness,”.
It is believed that Corinthians offered City over £35m to be paid in four instalments over four years, with the first early in 2012.
However the English club, reputed to be the richest in the world thanks to billionaire Abu Dhabi owner Sheikh Mansour bin Zayed Al Nahyan, rejected the offer.
Sao Paulo-based Corinthians’ plan was to pay for Tevez with television match broadcasting income which is close to 100 million Brazilian real (£39m) per year.
Another factor complicating the talks was the fact that the transfer window for players signed from abroad and coming into the Brazilian championship closes on Wednesday evening.
Sanchez said last week that if talks fell through Corinthians would try again in January to sign Tevez, who played for them in the mid-2000s and has said he would like to leave City and return to South America for personal reasons.