Neymar won't be joining Manchester City according to an ESPN source involved in the South American transfer market.
City manager Roberto Mancini wants to hold talks with the club's new director of football Txiki Begiristain, formerly of Barcelona, the club widely believed to be favourites to sign the Brazil striker.
Mancini will ask City to fund a bid for the Santos forward, who scored a hat-trick against Cruzeiro on Saturday night and has long been targeted by many of Europe's biggest clubs.
"I have read that Barcelona are buying Neymar but I don't know if it is true or not," said Mancini at the weekend.
"When Txiki starts to work here this week, we can start to talk about the future. For us, that is very important.
"Neymar is a Santos player at this moment and I don't know what will happen to him in the future."
However, the ESPN source said: "Neymar won't be going to Manchester City."
There have been reports that Barcelona and Santos have struck a deal to give the Spanish club first refusal on a move for the 20-year-old, but ESPN's source added: "Neymar has time to decide where he wants to go."
The ESPN source has consistently made it clear he believes that there is an undertaking with Santos that Neymar stays until the 2014 World Cup Finals in Brazil, but if an offer big enough emerges that could change.