Barcelona are no closer to agreeing a transfer deal with Manchester City for Joao Cancelo.

Cancelo impressed in his season long loan spell in Catalonia in 2023/24 and the Portuguese international wants to stay at Barcelona.

The player is determined to push for an exit from the Etihad Stadium with Barcelona prioritising a permanent agreement with the Premier League champions.

However, despite some positive interactions between the two clubs, Barcelona’s financial issues have blocked a key step.

As per the latest update from Marca, City are open to offloading Cancelo to Barcelona, but they will not lower their €30m valuation.

Barcelona are not currently in a position to afford that and they will look for an alternative structure.

As it stands, Barcelona will offer another loan deal, but with a mandatory purchase clause at the end of 2024/25, at a fee closer to €20m.

Cancelo’s City contract runs until 2027 but he does not have a place in Pep Guardiola’s plans in the long term in Manchester.

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