Manchester City are reluctant to match Everton’s £50m valuation of John Stones, with their preferred price being around £40m, plus potential add-ons. City have had this bid rejected but their sporting director, Txiki Begiristain, does not want to go higher.

Stones has told Everton he wishes to leave but, given the club’s refusal to budge from its desired price, the 22-year-old is in a similar position to last summer. Then Chelsea wanted to buy him but the central defender was not sold as the London club would not raise their offer to meet Everton’s valuation.

Despite City’s stance, talks are ongoing and Pep Guardiola’s need to sign a high‑class centre-back because of concern over Vincent Kompany’s long-term fitness could yet force the club’s hand.

Twelve months ago City were also resistant to raising the transfer fee for Raheem Sterling, initially informing Liverpool they would not pay the £49m the Merseyside club wanted. Yet in order to close the deal City finally offered the full amount for the forward.

Guardiola wants Stones for his ability to start the play from defence and if the England international is acquired City may drop their interest in Leonardo Bonucci, the 29-year-old Juventus centre-back.

City are expected to announce a one‑year contract extension for Sergio Agüero before the season opener at home to Sunderland on 13 August. It is thought the 28-year-old has agreed the terms on a deal to 2020. After that Agüero may return to his native Argentina and his first club, Independiente. He has spoken previously of doing so.

City may also offer Fernandinho a new deal. The 31-year-old Brazilian has two years remaining on his contract and has impressed Guardiola since the 45-year-old took over on 1 July. He was among City’s better performers in last season’s disappointing campaign and on Wednesday Guardiola described him as being able to play “10 positions”.

Meanwhile, Everton are close to completing the signing of the Aston Villa midfielder Idrissa Gueye, despite rival interest, according to the Championship club’s manager, Roberto Di Matteo. He said Everton had instigated Gueye’s £7.1m release clause, which expires at the end of the transfer window.

“It’s public Everton have triggered his clause and he’s going to leave,” Di Matteo said. “There’s no news so far but the expectation is, once personal terms are agreed and a medical [is done], he’s going to go. There are other clubs interested, that’s right, but the only official bid so far has been from Everton.

“There’s not much I can do because he had a clause in his contract and that’s something I inherited, and my hands are tied. We will be losing him. The fact he is leaving is basically down to the clause he has in his contract, otherwise there would be no chance. We’re not a club looking to sell, we don’t have to, we don’t need to.”

Gueye joined Villa from Lille last summer and made 38 appearances, scoring once, as the club were relegated from the top flight last season. He could become Everton’s first major signing of the summer after they appointed the former Leicester City assistant manager Steve Walsh, who helped find Riyad Mahrez and N’Golo Kanté, as director of football. The only arrival has been the goalkeeper Maarten Stekelenburg from Fulham.

PA contributed to this report