Manchester City are reportedly working on a 'plan B' in the transfer market after cooling their interest in Bayer Leverkusen star Florian Wirtz.
The Citizens have been heavily linked with a big-money move for Wirtz ever since Kevin De Bruyne announced that he will be leaving the Citizens at the end of the season when his contract expires.
It was anticipated that Wirtz, widely regarded as one of the brightest young talents in Europe, would feature in Man City's transfer deliberations ahead of a much-anticipated squad rebuild this summer.
A new era is underway at the Etihad Stadium as Hugo Viana has now started full-time work as Man City's new sporting director and is working alongside outgoing chief Txiki Begiristain during a transition period.
Recent reports claimed that Man City had established an 'initial basis' for a 'verbal agreement' with Leverkusen over a transfer fee for Wirtz, who is allegedly valued at around €150m (£126.3m).
Last week, Wirtz flew to Manchester with his parents to hold talks with Pep Guardiola over a potential summer move to the club, suggesting that the Citizens were making serious steps to win the race for his signature.
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However, it has since been reported that Man City have now withdrawn their initial interest in the German international owing to the soaring costs of any proposed deal.
It is understood that an agreement to sign Wirtz would represent the biggest deal in Man City's history and could cost as much as €300m (£252.5m), inclusive of transfer fees and wages.
According to journalist Sacha Tavolieri on X, Wirtz has now chosen to join Bundesliga champions Bayern Munich and Man City have subsequently turned their attention to other targets.
Tavolieri claims that Viana and his team at Man City are now working on a 'plan B' - a deal to sign Barcelona playmaker Dani Olmo, who has always been 'very appreciated' by Guardiola.
He adds in an article for Sky Sports that 'regular contacts' have already taken place between Olmo's entourage and Man City's hierarchy, who are aware of Barcelona's financial difficulties and the potential requirement to sell players to balance their books this summer.
Man City directors have already prepared the groundwork for Guardiola to integrate a 'modern number 10' into his team ahead of next season, and it is claimed that reaching an agreement with Barca for Olmo will be 'eminently easier' than luring Wirtz away from Leverkusen.
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Olmo "very happy" at Barca, but could he be sold to Man City?
It has been suggested that if Man City were to strike a deal with Barcelona for the 27-year-old, the amount 'expected' to be paid by the Premier League could be in the region of €60m (£50.5m).
Speculation over a possible move for Olmo to Man City comes not long after the player's agent insisted that his client is happy at Barcelona, who only signed the Spain international last summer from RB Leipzig for around €60m.
"We're not talking to any other club," Olmo's agent Andy Vara told Sky Deutschland last weekend. "Dani is very happy at Barcelona right now, he's winning titles there and he's in a great team. The rumours aren't true. Although, of course, you never know what the future holds."
Amidst their financial troubles, Barca have had difficulties with registering Olmo for La Liga matches this season, but the midfielder has nevertheless recorded nine goals and four assists in 24 league fixtures to help Hansi Flick's side with the title.
Olmo is not the only player said to be on Man City's radar, as they have allegedly stepped up their pursuit of AC Milan's Tijjani Reijnders, while Nottingham Forest's Morgan Gibbs-White is another midfielder high on their list of targets.
Oliver Thomas
