City are primed to move for Holland international Sneijder with Corinthians' plans to capture Tevez coming under increasing pressure as the Brazilian transfer deadline approaches at midnight on Wednesday.
Manchester United boss Sir Alex Ferguson has been at pains to distance himself from the move for Sneijder, a player who has been top of United's wishlist this summer.
All smiles: Sneijder is one of the most sought after players this summer
However, Sportsmail revealed that Ferguson has gone cold on the idea of a move for the Holland international.
'Forget it,' he said. 'We are looking at some things but I am not so sure Sneijder will be easy to get. I could pick three or four players to come in but they wouldn't be good enough for us so there is no point,' said the Scot.
'Maybe I am a bit overloaded in the strikers' positions. The alternatives in midfield are not nearly as strong. But I have a good squad.'
Roberto Mancini announced during City's US tour that the club had had agreed a fee with Corinthians for Tevez, but this was hastily rebuked by the Brazilian side, leaving the door open for a move to the Italian giants who could certainly afford the Argentinian's ?200,000-a-week wages.
City's manager Roberto Mancini, already in hot water with his Arsenal counterpart Arsene Wenger for going public with his interest in the Gunners midfielder Samir Nasri, found himself at odds with Sanchez over Corinthians' pursuit of Tevez.
But the club would be happy to match Sneijder's ?280,000-a-week deal with Inter, whereas United will not allow the Dutchman to top Wayne Rooney's ?220,000-a-week deal.
Carlitos way: Tevez is at the centre of a tug of war for his signature
Making a move: Mancini believed that Tevez's deal to Corinthians has been completed
The Corinthians statement read: 'Following news reports claiming an arrangement had been reached betweenCorinthians and striker Carlos Tevez, the president Andreas Sanchez is keen to come forward to clarify that City have not accepted the proposalby Corinthians.
'In fact, the club sent a counter-proposal to Corinthians this morning that, due to the time difference, did not reach the attention of the board until now.
'In the counter-proposal, the Premier League club sought to change the structure of payment and the total value of the transaction. In addition, Manchester City also insist that Tevez gives up a pending amount with the English club.
'Finally, the president Andraes Sanchez advises that there is nothing concrete at the current moment with Tevez and that City's counter-proposal will be reviewed by him and his board.'
City's pursuit of Arsenal midfielder Samir Nasri is heading down a dead end as the Gunners block the move, desperate to hold on to their key stars this summer.
And Sneijder, along with City's other midfielders, could link up Sergio Aguero who it is believed is close to securing a ?38m switch from Atletico Madrid.
City slicker: Ageuero is being lined up for a ?38m switch to Eastlands
Mancini said; 'At the moment I am waiting because if we lose Carlos, Aguero is a player that can play for Manchester City because he is young, because he is a good player like Carlos, he can score a lot of goals and can play with Mario (Balotelli), with Edin (Dzeko).
Meanwhile Sources in Brazil claim the only remaining sticking point is the timing of payments to Manchester City for the striker, though neither side was willing to budge.
City have agreed to take the fee in four equal annual installments, despite initially asking for the money to be paid in two years, but the Brazilians do not have the cash to pay the first amount up front.
Corinthians want to pay the first tranch in early February, after they have received money from their new TV deal.
City are understandably reluctant to let their captain leave without receiving any cash this year, but Corinthians have tried to smooth negotiations by showing them the full contract of their recently signed TV deal, which is believed to be worth at least ?35m a year, plus a variable amount for pay-per-view sales.
Corinthians director of football Roberto de Andrade confirmed: 'The fee is agreed, but the problem is the method of payment. We want to start paying next year.'
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