Manchester City are considering a fresh bid for Real Madrid defender Pepe, after having an initial offer of £15million rejected, reports the Daily Mail.
The 30-year-old has been heavily linked with a move away from the Santiago Bernabeu this summer, and the Premier League has been touted as his most likely destination.
Manuel Pellegrini is said to be keen to add the Portugal international to his Etihad Stadium ranks, which has raised further doubts over the long-term future of Joleon Lescott.
With just 12 months remaining on the out-of-favour centre-back's contract, speculation suggested that Lescott would not feature in the Chilean coach's first-team plans.
However, according to the Daily Mail, Manchester City are unwilling to sell the England star, and plan to offer him a new one-year deal - regardless of whether or not they sign Pepe.
The Real Madrid board have told Carlo Ancelotti he must sell to raise money for new signings, and it's widely anticipated that a bid of £20million will be enough to convince the Italian tactician to sell.
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