(CNN) -- The future of England international Joleon Lescott should become much clearer in the next 48 hours after Premier League side Everton turned down the central defender's transfer request.
Manchester City are attempting to make Joleon Lescott their latest big-money signing this summer.
After an intense period of speculation, Lescott presented a formal request to leave Goodison Park to the Everton board on Monday evening, hoping they would grant him the opportunity to join Manchester City.
Everton manager David Moyes is adamant the player is not leaving the club, telling Everton's official Web site: "I have always said we are not selling any players and that hasn't changed."
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However, after having offers of £15 million ($24.7m) and £18 million ($29.6m) rejected by Everton, cash-rich City are expected to make a renewed bid of £20m ($32.9m) for the player.
Should this bid receive the same reaction as the last two, City are likely to turn their attentions elsewhere, with fellow-England defender Matthew Upson of West Ham and Portsmouth's former City captain Sylvain Distin both on the club's radar.
City manager Mark Hughes has spent approximately $130 million this summer as he assembles a squad to challenge the top four of Manchester United, Chelsea, Liverpool and Arsenal in the Premier League.
The likes of Kolo Toure, Gareth Barry, Carlos Tevez, Emmanuel Adebaayor and Roque Santa Cruz have all been signed this summer -- and Hughes sees the arrival of Lescott as the final piece of an expensively-assembled jigsaw.
Meanwhile, one player that could be leaving the City of Manchester stadium is Bulgarian international winger Martin Petrov.
Petrov, who was signed by former manager Sven-Goran Eriksson, missed virtually all last season because of a knee ligament injury.
In his absence, Brazilian Robinho made the left-sided position his own, and Petrov has told reporters he might have to leave the club in order to get first-team football.
"I don't see City depending too much on me this year, at least from what I have seen from the pre-season friendlies so far," said Petrov.
"No footballer is content with polishing the bench and I am no exception. I am not in the plans of the City officials or manager Mark Hughes.
"In the next week I will try to speak with Hughes and if I get the green light for a transfer I will start searching for a new team."