The striker, who has completed a medical, is now reluctant to join the Premier League side following disputes over the payment of bonuses and wages, with Porto entering the raceEXCLUSIVE
By Paul Clennam
Kelechi Iheanacho's proposed move to Manchester City is on the verge of collapse, Goal can reveal.
The 17-year-old underwent a medical in Spain a few days ago, with a deal verbally agreed, but Porto have now made a late move for his signature.
Iheanacho is currently in Lagos, ahead of the Africa Cup of Nations, with the Portuguese club sending officials to Africa with the view to completing a late swoop.
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A £250,000 transfer fee had been agreed, with a further £300,000 for the Taye Academy in Owerri and £350,000 to Iheanacho's father, James.
However, City have dug in their heels and were reluctant to release funds to the bonuses until early 2015.
Iheanacho's family remain keen to complete the deal, but the Nigerian - who won the Under-17 World Cup Golden Ball with six goals earlier this year - is now focused on joining Porto.
The wonderkid's father revealed in November that his son was set to join City, with Goal understanding they were also close to sealing a deal of 15-year-old Norwegian goalkeeper Kjetil Haug.
The club have already snapped up Zacharias Faour, dubbed the new Zlatan Ibrahimovic, as well as Real Madrid youngster Jose Pozo and Malaga's Brahim Abdelkader, who is just 14 years old.