The move back to South America appeared to be the best solution for all involved as the Argentina international is desperate to be nearer his family.
City wanted to tie things up quickly to ensure the situation did not drag on into August and the prospect of selling the 27-year-old to a club so far removed from being a rival was an added bonus. However, finalising a deal with Corinthians proved problematic with City left frustrated that the Brazilians did not conclude a deal they thought had been agreed.
While Tevez's agent Kia Joorabchian has played down speculation Corinthians' inability to provide a bank guarantee for the vast sum of money had been at the centre of problems, Press Association Sport understands City have proof of four such requests.
The Eastlands club is also understood to have proof of an agreement as the Brazilian side had wanted it, although that seems to be of little value now that City have been left to deal with a saga that is set to run at least through to next month.
That may also impact on Mancini's plans to bring in Tevez's replacement, compatriot Sergio Aguero from Atletico Madrid. Corinthians have suggested they will return in January but that may be too long a period for both player and club.
"We are aware of the dream our fans had of having this player at Corinthians again and we look forward to him being with us in the near future," said the Brazilian club in a statement.
For his part, Tevez's advisor Kia Joorabchian on Wednesday night insisted the player would "respect" Manchester City for as long as he remained their player.
"There was a concrete offer on the table, and it was very close to being negotiated and agreed, but unfortunately it didn't go through," Joorabchian said. "There's not really any speculation from our standpoint (on what happens next).
"He's still a City player and he will respect that. We will keep it like that until there's something else concrete on the table."
Source: PA
Source: PA