The Daily Mail says with the first raft of a lucrative new TV deal being paid in January, Corinthians are ready to make a new offer, but hope to capitalise on Tevez's breakdown in relations with boss Roberto Mancini.
Sanches said: "We made an offer in the window, he is a player who interests us, but only in January will we see if we have a chance. He is not worth 40 million - we will make an offer well below it.
"I don't know if they will accept it, the (financial) gap is huge. I have a value in mind but I won't say what it is.
"The written offer of £40m isn't worth anything now. After all of the problems, he should be worth less. What if he brings these problems here?"