“The board of Sport Club Corinthians Paulista officially communicate the impossibility of signing the Argentine striker Carlos Tevez,” the statement said. “While acknowledging the efforts of Manchester City and all involved in the negotiations, there isn’t more available time for the transfer to be achieved, given that the transfer window to players from abroad closes on Wednesday, July 20.”
Transfers of players signed from abroad and coming into the Brazilian championship must be completed by 2100 GMT on Wednesday.
A source close to Corinthians president Andres Sanchez had said earlier on Tuesday a deal was unlikely after City demanded shorter payment terms and the first instalment of a £35 million deal up front.
“(City) want to see the money and Corinthians won’t commit financial madness,” the source, who was close to the talks and did not want to be named, told Reuters.
Media reports say Corinthians offered City £35m to be paid in four instalments over four years with the first early in 2012 but City rejected the offer.
If those were in fact the terms that Corinthians offered Man City it is no wonder they turned them down. Corinthians were in essence asking to use Tevez for a year before paying any money for him.
While nothing down will sometimes get you a house or condo, it will not get you a £40m superstar.