Fluminense have cooled speculation linking experienced forward Fred with a move to Manchester City.
The Brazilian international's performances in his country's Confederations Cup success have apparently caught the eye of new Citizens boss Manuel Pellegrini, who is seeking forward reinforcements.
Edinson Cavani has been touted as a long-term City target, but Fred would provide a cut-price alternative to the £50m-rated Napoli marksman.
The 29-year-old has hinted that an exceptional offer would tempt him away from his current employers, but Fluminense director of football Rodrigo Caetano has insisted that his star striker is happy to remain with the club.
Caetano told ESPN Brazil: "Fred is under contract with Fluminense, he is very happy at the club and we are very satisfied with him."
Fred returned to Brazil with Fluminense in 2009 following a four-year spell with Lyon.
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