City have told Corinthians they can have Tevez - but not for their opening offer of £37 million.
They have been hunting for a big name since Brazil legend Ronaldo announced his retirement in February.
The 34-year-old's astronomical wages were paid by cutting deals with sponsors and Corinthians' head of marketing Luiz Paulo Rosenberg believes Tevez would have similar appeal to the three-time FIFA World Player of the Year.
"Nothing excites the marketing department more than Tevez," said Rosenberg.
"Ronaldo was like the perfect wife you always wanted. Tevez is a returning Argentine lover, it's very exciting.
"There is a gap in the budget since Ronaldo left. I'm hoping we can make this work, but it takes two to tango."