Manchester City accept they will not be able to sign Kylian Mbappe from Monaco this summer.
Mbappe has been targeted by most of Europe’s biggest clubs, with City, Paris Saint-Germain and Real Madrid most-heavily linked.
PSG were reported to be edging closer to a deal for the 18-year-old, while City have now admitted defeat, for this summer at least.
“We are out of the race,” said City director of football Txiki Begiristain said.
“It is impossible to do it with the timing remaining.”
City also retain a long-standing interest in Lionel Messi, but Begiristain accepts a deal for the Barcelona megastar is unlikely.
“Messi is staying at Barcelona, for sure,” he said.