Boca Juniors are fighting to keep Valentin Barco away from Manchester City.
It's been suggested City have had an offer for the left-back accepted by Boca.
But ESPN says nothing has been agreed and Boca are preparing a generous renewal offer that would be formally presented to the player after the Copa Libertadores tie against Palmeiras.
This would entail an increase in his buyout clause and salary, which would make him one of the highest paid at the club. For now, Barco can leave for €12m.
Boca have already rejected a €10m offer from Brighton for Barco.