Fabio Cannavaro is set to snub a move to Manchester City after insisting he does not want to quit Real Madrid.
The veteran defender is reported to have been targeted by City as they attempt to shore up their defence for next season.
Boss Mark Hughes is considering bringing in an experienced international to play alongside the likes of Micah Richards.
Cannavaro is now 35 but believes he still has at least two more seasons at the top of the game. And he has rejected any suggestion that he is chasing a swansong in the Barclays Premier League.
'He has never talked about economic issues and he wants to stay at Real Madrid,' said the player's representative Enrico Fedele.
'The only reason we haven't been able to set up talks for a contract renewal is that the presidential elections are coming up.'
Cannavaro joined the Spanish giants from Juventus after leading Italy to World Cup glory in 2006.