The Blues reacted to reports from Brazil which suggested they were prepared to accept less than half of their summer valuation for the Argentina striker by claiming that they would not settle for anything less than a fair price.
Corinthians president Andres Sanchez claimed yesterday that the Sao Paulo outfit were close to a £16m deal for their former player.
But City have remained steadfast in their demand to receive 'market value' for their 27-year-old ex-captain who still has three years left to run on his contract.
Sanchez said: "Although many people do not believe it, Tevez is much closer to the Corinthians than you can imagine.
"The initial offer was 40m euros and that is now 18m euros because of all the problems he has faced back in England."
A City spokesman said: "I can confirm that, following a call between Roberto and the chairman, the club's formal position is that no offer for Carlos Tevez will be considered unless it reflects true market value."
City officials must now weigh up the cost to the club of keeping an unhappy player amid the current off-field distractions, although it could be argued that the team's form has been, if anything, better since the night in Munich when it all kicked off again.