Report: City refuses to meet Juventus' Bonucci valuation

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Manchester City is apparently digging in its heels over Juventus' £51-million valuation of defender Leonardo Bonucci, despite reports on the contrary in Italy.

ESPN FC's Jonathan Smith understands the Old Lady spurned an initial offer of £38 million for the centre-half, and then revealed an asking price that's believed to be too rich for moneybags Manchester City.

The new boss in M11, Pep Guardiola, is on the lookout for a defender who's both comfortable in possession and uncompromising, and has previously confessed that Bonucci is among his "favourite ever players."

Efforts to tempt Aymeric Laporte fell short after the Frenchman signed fresh terms at Athletic Bilbao, although it's believed that bringing in Everton's John Stones remains a distinct possibility.

Last season, under Guardiola's predecessor Manuel Pellegrini, the defence was often found culpable in an underwhelming term. Vincent Kompany was regularly sidelined with calf issues, veteran Martin Demichelis has departed following a woeful season, and the expensive duo of Nicolas Otamendi and Eliaquim Mangala have been found wanting for both concentration and grace on countless occasions.

Bonucci, 29, proved himself a cultured operator at the back during Italy's Euro 2016 run to the quarter-finals, and is arguably the best ball-playing player in his position in world football. He notably supplied a luscious assist for Emanuele Giaccherini for the Azzurri's first goal of the tournament against Belgium.

He has also been touted to follow Antonio Conte from the Italy setup to Chelsea, but is currently on a break following the European Championship so has been unavailable to comment on his future.