The Brazil international's agent says that Porto is now the most likely destination for his 20-year-old client
Spurs boss Andre Villas-Boas confirmed in June that his side were monitoring the 20-year-old but suggested that "nothing will happen", while negotiations with Borussia Dortmund have also broken down and reported interest from Shakhtar Donetsk has not materialised.
"The negotiations with Dortmund and Tottenham have cooled due to Bernard's high asking price and he won't go to any of these clubs," Adriano Spadoto, the youngster's agent, told O Tempo.
"There is nothing from Shakhtar; they have made no offer."
Porto are now in pole position to land the Brazilian's signature, thanks in part to connections between BMG bank and both the Portuguese giants and Atletico Mineiro.
"The agreement [with BMG] is a factor, so Porto are the most likely destination for Bernard," Spadoto remarked.
"I believe that Bernard will leave Atletico Mineiro after the Copa Libertadores and the official announcement will be made by [Mineiro president] Alexandre Kalil."
The diminutive Bernard, who has been capped five times by Brazil, was a part of his country's Confederations Cup-winning squad this summer.