In an extraordinary turnaround, a statement on the club's official website has revealed the Argentine has withdrawn his transfer request, while also "expressing his absolute commitment to the club."
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The club statement continued: "Carlos' contract remains unchanged and both Carlos and the football club are keen to focus on the opportunities that lie ahead."
Roberto Mancini has expressed his delight at managing to change his striker’s mind, extolling his praise at Tevez' ability.
Mancini said: "Carlos is a world class player whose contribution since he joined the club has been invaluable.
"I am pleased that we are now able to focus on pure football matters and to be able to look forward to Carlos continuing to play a significant role in the club’s progress."
Tevez's decision marks a sharp u-turn in what was threatening to become an ongoing sage. A week ago it appeared the City captain would be leaving Eastlands after requesting a move away because of personal reasons, and subsequently reiterating his desire to leave because of a breakdown in relationships with “certain executives.”
Then as recently as Sunday it was revealed Tevez was set to be stripped of the City captaincy by Mancini, who nonetheless hoped to be able to convince the 26-year-old to stay.
Speaking on Sunday, Mancini said: "He is our player and I hope he continues to play and score for us."
Tevez is now set to face Everton in the two side's Monday evening Premier League clash, as City look to maintain their good early start to the season.
Betting experts William Hill, still believe Tevez will leave Eastlands, placing him at evens to depart the club in the summer.