Real Madrid defender Pepe hasn't shut the door on a move to Manchester City.
Pepe is City boss Manuel Pellegrini's top defensive target and while keen to stay with Real, the Portugal international remains unsure where he sits in coach Carlo Ancelotti's plans.
The defender is reluctant to experience another 12 months of inconsistent football and knows City are willing to pay him far greater than what he is currently earning at Real.
For his part, Ancelotti is reluctant to lose Pepe, particularly with Raphael Varane's knee problems in preseason.
