Atlético Madrid have rejected an €85m offer from Manchester City for centre-back José Maria Giménez, according to club president Enrique Cerezo.

The Uruguayan international has been a long-term target for Pep Guardiola, however Los Colchoneros turned City’s hefty offer down.

Speaking on El Transistor, Cerezo admitted: “We did receive the offer, but Giménez is a magnificent player and we are interested in having magnificent players in the team.”