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British paper, the Daily Mail, reports that Manchester City rejected a 40 million euro offer for Mario Balotelli after manager Roberto Mancini threatened to quit if the player was sold.
Despite very public feuds between the manager and his star striker this past season, the English club has committed to keeping the Italian aboard, especially after his impressive performance in the Euro 2012 tournament.
Mancini admitted that bids have continued to rise as the Italian striker had a great summer as he also complained at the lack of transfer activity from the club to help defend their Premier League title.
Balotelli is expected to end his long vacation with an appearance in the Community Shield against Chelsea on Sunday.
PSG has been the most active club in the summer market, already signing to of the most sough after players of the summer in Zlatan Ibrahimovic and Lucas Moura.