Man City transfer target Thiago Almada has signed a new four-year contract with his club Velez Sarsfield.
City were chasing the highly-rated midfielder throughout the summer but a deal never came off and now the Argentinian club have confirmed that he has committed his future to the club.
Velez released a statement on Friday evening which translated to say: "At noon hours, Thiago Almada renewed its bond with Velez for the next 4 years. The agreement, concluded in the presidency of the Club, runs until June 30, 2023."
It's also believed that the teenager's release clause has been raised to around €25M, so if City wish to reignite their pursuit when the transfer window reopens it's going to cost them more than they initially wanted to pay.
City were chasing Almada, who has been dubbed as the 'new Messi' during the summer with the deal reportedly costing £16million for the creative midfielder.
However, it was expected that had he signed for City he would have been immediately sent out on loan, probably to Sporting.
The 18-year-old played for Argentina Under-20s at the age of 17 and made his debut in Argentina’s Primera Division when he was 17 years and four months old.
He made 21 appearances for Velez last season, scoring four times.
The player is just 5ft5ins but has been picked out as one of the next generation of world stars and his idol is former City skipper Carlos Tevez.
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