The 23-year-old has been linked with a move to City, but as Real have failed to sign a replacement for the midfield they are not keen on letting the Argentine leave.
Gago’s agent, Marcelo Lombilla, is holding talks with Real director general Jorge Valdano to sort out Gago’s future.
“Lombilla is in Madrid and has met twice with Valdano but I do not believe that he will leave,” Gago’s other agent, Zoran Vekic, told ESPN Soccernet.
“There is still a meeting pending, but I doubt that Madrid will let him join Manchester City because it is not a question of money.”
