Manchester City are increasingly determined to avoid being dragged into bidding wars for players as the Premier League champions face up to the prospect of missing out on rising Ajax star Frenkie De Jong.

Paris St-Germain have emerged as the new favourites, ahead of City and Barcelona, to sign the 21-year-old Holland midfielder in a £67 million deal that could rise with add ons.

City or Barcelona had appeared De Jong’s most likely destination after lengthy pursuits but PSG’s interest has pushed the player’s price even higher.

If PSG do succeed in gazumping City and Barcelona, it is expected that De Jong would see out the remainder of this season at Ajax before leaving in the summer.

Pep Guardiola, the City manager, has been eager to sign De Jong and bolster his midfield options but the club - who long stood accused of artificially inflating the transfer market with their largesse - are showing greater reluctance to get drawn into price wars with rivals.