21 July,2011 10:23 AM IST | | AFP
Brazilian side Corinthians on Tuesday said that they had admitted defeat in their attempt to sign Argentinian star Carlos Tevez from Manchester City.
City manager Roberto Mancini had said on Monday that the English Premier League club had agreed to a deal but the Brazilians contradicted him and said that time had run out with the transfer window in Brazil for players coming in from abroad closing Wednesday night.
The Brazilian side's initial offer for the 27-year-old striker was reportedly worth 40 million euros ($63.57m) but there has been much debate between the two clubs on how the fee would be structured.
In a statement on their website, Corinthians said the deal was off. "There is no more sufficient time for the transfer to go through," the statement said.
