Real Madrid GM Valdano leaves Man City option on table for Gago

Real Madrid general manager Jorge Valdano held showdown talks with Fernando Gago and his agent yesterday.

Marcelo Lombilla informed Valdano of Manchester City's €15 million offer and how his client was keen to move to England.

Valdano, says Marca, insisted now was not the time to release Gago, but did not rule out allowing the Argentine to leave before next week's transfer deadline. Lombilla is expected to remain in Madrid to monitor developments.

It's understood, however, that Real will not sell Gago for anything less than €25 million.