Report: Manchester City unwilling to increase £40M bid for Stones

To see a list of completed deals in the summer window thus far, visit theScore's Premier League transfer tracker.

Manchester City sporting director Txiki Begiristain has decided the club won't meet Everton's £50-million asking price for coveted centre-back John Stones, although negotiations for the 22-year-old are still ongoing, according to the Guardian's Jamie Jackson.

City's apparently holding firm on the latest £40-million bid which Everton duly rejected, despite Stones' desire to make the switch to Pep Guardiola's side.

The Spaniard confirmed Thursday that City is trying to sign the player, along with Schalke's Leroy Sane, before the end of the transfer window.

Related - Report: Stones informs Everton he wants to leave for Manchester City

The summer is playing out as it did last year for Stones, who couldn't force a move to Chelsea. The Blues reportedly made several attempts to acquire the former Barnsley man, but Everton stood firm and deflected all overtures.

City clearly believes £40 million, plus potential add-ons, is more than enough for a player coming off a disappointing season for the Toffees.

But Jackson reiterates that Guardiola sees Stones as a versatile defender who could offer sufficient cover for the ailing Vincent Kompany, whose long history with injuries is a cause for concern.

A negative conclusion to negotiations could have some bearing on a potential bid for Juventus stalwart Leonardo Bonucci, although it's believed the Bianconeri have no intention of listening to offers.

Stones joined the rest of his Everton teammates on a preseason trip to Germany, and played 70 minutes of Everton's friendly against Dynamo Dresden on Friday.