Manchester City  ended their interest in Everton midfielder Ross Barkley after the Goodison Park club demanded a £50million fee for the 20-year-old.

According to MirrorFootball, City were prepared to stump up around £30m plus bonuses for the youngster, but were left stunned by Everton’s valuation.

Manuel Pellegrini is an admirer of Barkley and has been tracking him all summer, but believes £50m for a player who has made less than 30 Premier League starts is ludicrous.

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But Everton’s valuation effectively scared City off and allowed them to tie the youngster down to a new four-year deal, which he signed earlier this month.

Barkley is currently recovering from injury after he tore knee ligaments shortly before the new season got under way.

A source close to City said: “Barkley was seen as one of the few homegrown English players in the world game who would improve the squad.”