It is claimed that the club has no intentions of accepting an offer below his €120m release clause while the player himself sees his future at Atleti.
A report in The Times earlier this summer outlined Gimenez as City’s number one defensive target, but it now appears unlikely they will continue to pursue a move.
The player moved to the Spanish capital as an 18-year-old from Danubio and had been identified as an ideal candidate for bolstering City’s backline ahead of this season amid a defensive overhaul.
Gimenez is one of the club’s four captains this season and his role has gained even greater significance following a number of exits last summer, including defensive partner Diego Godin.
The Uruguayan defender signed a new long-term contract at Los Rojiblancos last summer until 2023 with his new deal including a reported €120m release clause.
The 25-year-old has been part of Diego Simeone’s first-team squad for six seasons and is a tough, aggressive, quick and commanding central defender.
However, Gimenez has suffered 17 different injuries in his career, 15 of which have been muscular and has started 20 or more La Liga games in just one season and not at all in the past four campaigns.
Stefan Savic and Felipe Monteiro have been the main central defensive partnership at Atleti this season among Gimenez’s fitness concerns, but it appears highly unlikely the club will contemplate his exit this summer.