Manchester City had reportedly agreed to the £50 million payment demanded by Everton for the transfer of center back John Stones.
The Liverpool Echo reported that City's initial offer of £40 million for the 22-year-old English defender on Tuesday was "rejected outright" by the Toffees and so an improved bid was clearly needed to get the approval of the Merseyside squad. Everton also told the Citizens that a deal that includes players plus cash will also not be approved.
City tried to include striker Wilfried Bony in one of their earlier deals and Everton was not amenable with it.
New head coach Pep Guardiola is said to be keen on snagging Stones this summer as the Spanish mentor looks to upgrade his current backfield composed of team captain Vincent Kompany, Bacary Sagna, Pablo Zabaleta, Aleksandar Kolarov, Eliaquim Mangala, and Nicolas Otamendi to name a few, as per Caught Offside.
The 6-foot-2 Barnsley, England native had been rumored as Guardiola's "top defensive target" ever since he arrived at the Etihad and he was told by the Toffees' senior officials that only a proposal of £50 million could get him the player that he wants.
However, the report mentioned that Stones had spoken with new head coach Ronald Koeman earlier this summer and said that he wants to leave Goodison Park specifically for the Etihad as soon as the summer window opens.
The Englishman also said that he hopes to pull it off before City goes to their International Champions Cup tour in China, which was already finished on Thursday after their 1-1 (6-5) penalties victory over Borussia Dortmund.
Koeman allegedly had a private agreement with Stones, allowing him to leave the squad if he wishes to, but the club's senior officials "will not accept an offer they do not deem fitting" for who is considered as one of the best young center backs in Europe at the moment.
Stones, who was called-up by the England national team for the Euro 2016 but did not play a single game, was acquired by the Toffees in January of 2013 from Football League Championship team Barnsley for only £3 million.
He gradually developed into one of the most effective backfield players in the Premier League which increased his value tremendously.
Last summer, Chelsea and Manchester United tried to lure him away from Everton but was both unsuccessful.