The Argentinian striker went into a self-imposed exile after a bust-up with manager Roberto Mancini, which originated from his refusal to warm-up during the Champions League tie against Bayern Munich in November.
The club fined and suspended the 28-year-old, but would not sell him at a reduced fee during the January transfer window amid strong interest from AC Milan and the expectation that he would leave.
Al-Mubarak revealed that the club never entertained the possibility of letting Tevez go cheaply after splashing out a reported £47 million to sign him from Manchester United in 2009.
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It proved to be the right decision as he returned to the Etihad Stadium in February after making peace with Mancini, and played a major role in helping the side to lift the Premier League title four months later.
In a new book on the club called 'Richer than God', the chairman states that City took the right course of action over Tevez in what he regards as a triumph against player power.
"It was a landmark," he said. "We cannot allow ourselves, as a club, to be mucked around.
"It was a hell of a gamble for me, not to let him leave for AC Milan in January, because he could have sat out all year, but not played for us and lost his value.
"But I was firm that we are not rich people to be taken advantage of, to give him what he wants and let the market screw us."
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