Manchester City have had a bid of £30 million for Argentine striker Javier Pastore turned down by Palermo, according to talkSPORT.
The 21-year-old has been subject to interest from a host of Europe's big names, namely Manchester United, who were said to be close to completing a deal for the forward.
However, their neighbours appear to have jumped the gun and bid for the starlet, but Palermo owner Maurizio Zamparini says he has no intention of selling Pastore.
"We have received an offer but we have ruled it out because it does not meet our valuation of the player and, at this time, there is no need to lose his services, especially if we qualify for the Champions League," Zamparini said.
The Italian media are reporting that the bid for Pastore's services was £30 million, someway short of the £50 million the Italian club are holding out for.
United were said to have agreed a deal worth £35 million with Palermo in the wake of interest from Barcelona, one of the number of clubs keeping tabs on the Serie A striker.
Sir Alex Ferguson had earmark Pastore as the man to fill the creative midfield role at Old Trafford, but with the Scot's unwillingness to compete in the transfer market with the big spending City, another target may again slip from his grasp.
The Eastlands club have invested heavily in their squad over the past 12 months, with Mario Balotelli and Edin Dzeko among those having joined the ranks at Eastlands.
Manager Roberto Mancini will be hoping that captain Carlos Tevez can tempt his fellow countryman to City, where Champions League football, and a credible challenge for the Barclays Premier League title should be on offer next season.
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