Inter Milan have tabled a £20.7m bid for Carlos Tevez, but it is unlikely to meet Manchester City's valuation for the Argentine striker.
"Our offer is 25m euros - now it depends on them whether they accept," said Inter president Massimo Moratti after their 1-0 win over AC Milan.
"The offer is there. Now we are free to decide whether to go ahead or not."
AC Milan withdrew from talks to sign Tevez
, 27, on Thursday after Alexandre Pato refused to join Paris St Germain.
Milan had already agreed personal terms for the player, but were forced to pull out of negotiations with City.
PSG have also expressed interest in Tevez and Moratti claimed clubs in England were also in the hunt.
TEVEZ SAGA TIMELINE
- 27 September 2011
- City boss Roberto Mancini says that he wants Tevez "out of the club" after the striker allegedly refuses to play against Bayern Munich
- 28 September
- City suspend Tevez for two weeks
- 25 October
- Tevez found guilty of five breaches of contract and fined four weeks' wages - later reduced to two weeks' following intervention by the PFA
- 8 November -
Tevez accepts a misconduct charge
- 9 November -
Tevez misses training
- 6 December -
AC Milan make a formal offer for Tevez, which is rejected
- 11 December -
City insist reports PSG are to sign Tevez are untrue
- 19 December
- City confirm scheduled talks with AC Milan over Tevez
- 12 January 2012:
AC Milan withdraw from talks to sign Tevez
"I believe there are still other teams involved for the striker," he added. "There are clubs in England as well as PSG. In football there are no secrets.
"Do we need Tevez? At this moment, it seems not, but football gives different answers every day."
The Milan derby was settled by a single goal
, scored by Argentine forward Diego Milito.
Afterwards, Inter coach Claudio Ranieri was coy about his side's chances of striking a deal for Tevez, telling Sky Sport Italia: "You never know. Do we really need him? You journalists certainly do."
Talking to Rai Sport, Ranieri said: "If he joins he'll be very welcome."
And in his post-match press conference, he said, according to the club's official website: "Tevez? If the president wants to give the city of Milan a present. I'm used to working with what I've got."
Tevez has not played for City since they
beat Birmingham on 21 September
alleged he refused to come off the substitutes' bench in September's Champions League defeat at Bayern Munich
, while the player maintained there had been a misunderstanding.
An internal club investigation concluded that Tevez, who joined City in July 2009, was guilty of five breaches of his contract and he was fined four weeks' wages, reduced to two following intervention from the Professional Footballers' Association.