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Manchester United's summer pursuit of Sao Paulo wonderkid Lucas Moura appears to be in vain, as the player's agent has said that the winger "will not leave".

The 19-year-old, who will likely take to the field against Egypt at the Millennium Stadium tomorrow night for his country's first clash in the Olympic Games' football tournament, was the subject of a confirmed £26 million bid last week. While the fee was reported to have been agreed in some media circles, it now appears as though the player will stay put.

"They have reached their limit, they will not offer anything more," the player's agent, Wagner Ribeiro, told Uol.com. "He will not leave. He is happy in Sao Paulo.

"This matter has to be terminated, there is no possibility of him leaving now. Manchester United made an offer which was refused, and will not do another because they came up to their limit."

Wagner's words seem quite conclusive and suggest that after Manchester United boss Alex Ferguson went public to confirm the club's bid last week, they evidently had no desire to reach into their wallet any further.

"We haven't reached an agreement for the player," said Ferguson when he denied that a deal had been struck last week. "We've shown an interest but until such time as we get a deal agreed we can't say he's our player."

However, there appears to be hope that the transfer can still be agreed, though Sao Paulo's vice-president Joao Paulo de Jesus Lopeshas confirmed that the club are hoping for a final, higher bid.

"I don't rule out the possibility that in the future we open negotiations with Manchester United as we received them with great courtesy," Lopes told Radio Estadao ESPN.

"And there is the possibility they come back with another offer. Their approach was serious. Other teams have also expressed interest for Lucas, but only through the press from their countries.