Pep Guardiola’s side had wanted Tottenham talisman and England captain to replace Kun Aguero who left for Barcelona, but the £150million-rated forward announced on Wednesday that he is staying at Spurs for the coming season.
According to Gianlucadimarzio.com, City are willing to offer Ronaldo a two-year deal worth over £230,000-a-week but do not want to pay Juventus a transfer fee for the Portuguese icon.
The report says the Old Lady wants around £25million for the player which would allow them to find a replacement so late in the window.
Reports across Europe claim Ronaldo, 36, is looking for a new challenge and his agent Jorge Mendes offered him to City last week for £25m.
Paris Saint-Germain are also interested in Ronaldo with the French giants struggling to keep Kylian Mbappe, who was the subject of a £137million bid from Real Madrid this week